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Conclusion of sale by EDP Brasil of 50% in Jari and Cachoeira Caldeirão hydro plants

Conclusion of sale by EDP Brasil of 50% in Jari and Cachoeira Caldeirão hydro plants

Friday 27, June 2014
3 min read
This article has more than 6 months
Following the information released to the market on December 6th 2013, signing of shareholders" agreements and the obtainment of the relevant regulatory approvals, EDP - Energias do Brasil S.A. has completed the sale of 50% stake in the company holding the rights to develop the Jari hydro power plant project (373 MW) and 50% in the company holding the rights to develop the Cachoeira Caldeirão hydro power plant project (219 MW), to CWEI (Brasil) Participações Ltda., a subsidiary of China Three Gorges.

Under the terms and for the purposes of article 248 of the Securities Code, EDP – Energias de Portugal, S.A. ("EDP") hereby discloses the following information to the market and to the public in general:

Following the information released to the market on December 6th 2013, signing of shareholders" agreements and the obtainment of the relevant regulatory approvals, EDP - Energias do Brasil S.A. ("EDP Brasil") has completed the sale of 50% stake in the company holding the rights to develop the Jari hydro power plant project (373 MW) and 50% in the company holding the rights to develop the Cachoeira Caldeirão hydro power plant project (219 MW), to CWEI (Brasil) Participações Ltda. ("CWEI"), a subsidiary of China Three Gorges ("CTG").

The total amount of the transaction, paid today by CWEI to EDP Brasil was R$420.6 million, of which R$420.2 million on the sale of 50% stake in Jari hydro power plant project and R$0.4 million on the sale of 50% stake in Cachoeira Caldeirão hydro power plant project.

This transaction took place in accordance with the EDP/CTG strategic partnership established in December 2011 and that entered into force on May 2012.

EDP – Energias de Portugal, S.A.
 
 

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