CTG buys ENEOP stake from EDPR

CTG has bought a stake in parent EDP

CTG has bought a stake in parent EDP

Portuguese renewables giant EDPR is to sell 49% of its interest in the ENEOP wind power consortium to China Three Gorges.

The agreement is part of a €2bn ($2.75bn) investment in renewables planned by CTG through to 2015, following the Chinese giant’s 2011 purchase of a stake in EDP, the Portuguese utility that is EDPR’s main shareholder.

The transfer will leave CTG holding roughly 20% of ENEOP.

ENEOP signed a deal to develop 1.2GW of wind following a Portuguese government tender in 2006.

Today EDPR said the group had this year received approval to add a further 135MW to that total.

The consortium  had installed 970MW by the middle of 2013.

The other stakeholders in ENEOP include Italy’s Enel Green Power.

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