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China Three Gorges ready to invest outside Portugal-EDP CEO
June 4, 2013 / 7:22 AM / in 4 years

China Three Gorges ready to invest outside Portugal-EDP CEO

BOLOGNA, Italy, June 4 (Reuters) - China Three Gorges, the largest single shareholder of Portuguese utility Energias de Portugal (EDP), is ready to make a major investment outside Portugal in the coming days, EDP’s chief executive said on Tuesday.

EDP CEO Antonio Mexia said the investment was part of an agreement with China Three Gorges for the Chinese utility to invest 2 billion euros ($2.6 billion) in EDP’s wind power farms by 2015.

China Three Gorges’ acquisition of a 49 percent stake in the Portuguese unit of EDP’s wind energy arm EDP Renovaveis (EDPR) for 359 million euros in December 2012 was the first operation under that agreement.

“For the next investment, we will diversify geographies,” Mexia told Reuters on the sidelines of the Eurelectric utilities conference, adding that China Three Gorges and EDP were looking at South America and Europe.

$1 = 0.7675 euros Reporting by Geert De Clercq; Editing by Mark Potter

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