China Three Gorges Europe is indirectly present in the Portuguese energy sector, through its stake in EDP (Energias de Portugal), the country’s leading electricity company.
China Three Gorges Europe is the largest shareholder of EDP, and since entering into the company’s shareholding in 2011, both companies have embarked on a long-term strategic partnership with the aim of promoting the deployment of renewable energy both in Europe and worldwide. CTG Europe also holds a 49% stake in EDPR (Portugal), a subsidiary of the electricity group that controls a portfolio of onshore wind assets in the country with a capacity of 649.9MW.
In 2021, the companies announced a change in terms of their strategic partnership which would lead to greater flexibility and autonomy for both to grow globally. This showcases that CTG Europe and EDP are committed to maintaining their strategic advantage in the market, through consistently making renewables the core of their strategies and having developed unrivalled know-how and capabilities as clean energy developers and operators.
In Europe specifically, in recent years the companies have worked together on a number of projects and transactions, including:
- The Moray East 950MW offshore wind project in UK, which both companies participate in.
- The acquisition by CTG Europe of EDPR’s Project Flores, a 181MW wind portfolio in Spain.