EDF Buys 51% Stake in Dam-Building Company in Brazil
December 12 2014 - 04:00AM
Dow Jones News
By Inti Landauro
PARIS--French power utility Electricite de France SA (EDF.FR)
said on Friday it agreed to buy a 51% stake in SINOP Energy, a
Brazilian company that is building a hydroelectric dam, for an
undisclosed amount.
The dam and its 400-megawatt power plant will be ready for
operation in the second half of 2017, the French company said. EDF
will team up with two units of Brazilian utility Eletrobras
Patricipacoes SA (LIPR3.BR) in the project.
EDF bought the stake from Brazilian electricity company Alupar
as part of its strategy to expand abroad where markets offer better
prospects than in France.
Write to Inti Landauro at inti.landauro@wsj.com
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