EDP to Sell Portuguese Hydro Plants in $2.5 Billion Deal
December 19 2019 - 10:47AM
Dow Jones News
By Max Bernhard
EDP SA (EDP.LB) will sell six hydro plants to a consortium
consisting of Engie SA (ENGI.FR), Credit Agricole S.A. (ACA.FR) and
Natixis (KN.FR) in a deal worth 2.21 billion euros ($2.46
billion).
The sale is for 1,689 megawatts of installed capacity in the
Douro river basin in Portugal and includes three run-of-river
plants and three pumped-storage power plants, the Portugese utility
said Thursday.
In 2018, the plants contributed EUR154 million to earnings
before interest, tax, depreciation and amortization. The deal is
expected to be completed by the second half of 2020, subject to
regulatory approvals.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
December 19, 2019 10:32 ET (15:32 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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