Portuguese energy company EDP has sold to China Three Gorges (CTG) group, its biggest shareholder, 50% of the company that controls the San Gabán III hydro project in Peru.
The deal was closed for a total amount of USD 68 million, in line with what was previously announced to the market, according to EDP.
“The sale of its participation in Hydro Global allows EDP to maintain its growth trajectory, in compliance with the objectives set out in its 2021-2025 Business Plan, maintaining its focus on the growth in renewable generation assets, networks and in the provision of value-added services to its customers”, the statement adds.
EDP to sell USD 500 million hydroelectric project in Peru to China Three Gorges
Hydro Global Investment Limited (Hydro Global) is a 50-50 joint venture between EDP and CTG, whose main asset is the hydro project San Gabán III in Peru with 209 MW, which is currently under construction.
The buyer of Hydro Global is China International Water & Electric Corporation (“CWE”), a company that belongs to CTG.