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ENGIE, Crédit Agricole Assurances and Mirova win bid

Power News - Published on Mon, 13 Jan 2020

Image Source: ENGIE Crédit Agricole Assurances Mirova
ENGIE, together with its consortium partners Crédit Agricole Assurances and Mirova, an affiliate of Natixis Investment Managers, announces it has won a competitive process conducted by EDP for the acquisition of Portugal’s second largest hydroelectric portfolio, for an enterprise value and consideration of EUR 2.2 billion. The hydroelectric portfolio has a generation capacity of 1.7 GW with a weighted average remaining concession term of 45 years, and includes three newly commissioned pump storage units along with three recently repowered run-of-river plants.

ENGIE, as the industrial partner for the consortium, will operate and maintain the hydroelectric portfolio and also provide energy management services. ENGIE has a strong track record of operating hydro generation assets, with a current global hydro capacity of 20 GW and is the 2nd largest engineering company in hydro related projects on a global basis.

The acquisition of the hydroelectric portfolio is instrumental to the deployment of ENGIE’s zero-carbon strategy, bringing flexible renewable capacity which complements ENGIE’s existing Iberian portfolio of onshore wind (1.1 GW) and solar (50 MW) power, most of which is already in partnership with Mirova.

Source :

Posted By : Arun Huidrom on Mon, 13 Jan 2020
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