EDP seeks more Brazil generation via small plants
LISBON, Oct 23 (Reuters) - Energias de Portugal (EDP.LS) seeks to expand its electricity generation in Brazil mostly via small and medium-sized hydroelectric projects, Chief Executive Officer Antonio Mexia said on Friday.
EDP, via its subsidiary Energias do Brasil (ENBR3.SA), has 15 percent share of the power distribution market in Latin America's largest country, but it generates only 300 to 400 megawatts.
"We want to grow in Brazil in terms of power generation. We like small and medium-sized hyrdoelectric plants. What moves us ahead in Brazil are not large projects," Mexia told reporters.
He also said EDP was going to take part in Brazil's first wind-power auction next month, but was uncertain if it would come up with any bids. EDP's unit EDP Renewables (EDPR.LS) is the world's fourth-largest wind power company.
In Portugal, EDP is on track to meet its end-2009 target of 250,000 clients on the liberalized electricity market, Mexia said, adding that the number has already exceeded 240,000, or two-thirds of the market. At the end of last year EDP had 200,000 clients in this segment.
Most of the electricity distribution in Portugal is government-regulated.
EDP shares were 0.5 percent off at 3.05 euros in late afternoon trading, underperforming the broader market in Lisbon, down 0.2 percent. (Reporting by Filipa Cunha Lima, writing by Andrei Khalip)
