CTG comes to Lisbon to remember that fulfilled the promised privatization of EDP – publico

 
         

                 

                         
                     

                 

 
 

EDP and China Three Gorges (CTG) signed on Friday a new memorandum of understanding to strengthen the strategic partnership between the two companies. Four years after the Chinese having converted the largest shareholders of EDP, and at a time when issues such as the extraordinary contribution of the energy sector (EESC) and the financing of social electricity tariff back to be on the agenda, the two companies they wanted to make clear that “CTG did that it has undertaken” privatization.

According to António Mexia, the company has invested 1,400 million euros of the two billion that had undertaken (in buying shares minority in the EDP assets and the establishment of joint ventures) and the remaining 600 million already have destination. Iran “essentially to [wind] parks in Italy and Poland, and possibly in the Iberian Peninsula, and for projects offshore in France and England,” according to revealed the president of EDP, Antonio Mexia, at the end of meeting.

Mexia did not quantify how much could represent a new phase of joint investments, but stressed that the agreement focuses on the “joint interest in the development of projects offshore and the Brazilian market where the CTG, thanks to the initial support of the EDP, today is the second largest private operator “.

at the signing ceremony, President of EDP also made a point of stressing that the support of the CTG in 2012 it was “very important” for the company and for the country, when both were faced with “closed markets”. EDP ​​managed to “gain muscle” and Portugal managed to attract other foreign investors “with a long-term vision.” The relationship between EDP and CTG is therefore a relationship that transcends business level, and that says a lot of the “relationship between the two countries,” stressed Mexia and the president of CTG.

Now that ended the lockout period and that the CTG can now buy and sell shares in EDP, what will the Chinese do? “What we are sure is that we will not reduce,” he said on the sidelines of the meeting, the vice president of Chinese electricity, Lin Chixue. But the strengthening of the position will depend on “what will be the future” of EDP and the “reaction of Portuguese society” investment of CTG, said Chinese manager.

By the way, “the future and the development of EDP “will be issues to be addressed at meetings scheduled with the President of the Republic and the Portuguese Prime Minister admitted Chixue. The manager acknowledged that the CTG is “closely monitoring the development” of the EESC theme that EDP expects to end in 2020 and that is reduced compared to current values ​​(in three years EDP paid € 180 million).