Portugal’s EDPR to boost green growth by investing $22.34 billion by 2026 | – #Portugals #EDPR #boost #green #growth #investing #billion
LISBON, March 2 (Reuters) – Portugal’s EDP Renovaveis (EDPR) said on Thursday it will deploy 17 gigawatts (GW) of new renewable energy by 2026, around 21 billion euro (22.34 billion dollars) announced plans to invest and said that he had chosen such a Singaporean fund. GIC to partially finance the move.
EDPR (EDPR.LS) – the world’s fourth-largest renewable energy producer – said in a statement that “subject to corporate approvals and favorable market conditions, 1 billion euro capital gains way said that he intends to increase capital with is welcomed”.
It was reported that Lisson Grove Investment, a branch of GIC,
at €19.25 per share 20, undertook to subscribe to the capital increase at a price between 50 euros. The exact price will be determined when the transaction starts.
EDPR shares closed at €19.34 on Wednesday.
EDPR is pitching investors, including sovereign wealth funds, to buy a stake in the company to help finance its push for green growth, two people familiar with the talks told Reuters on Tuesday.
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As of December, EDPR had an installed capacity of 14.7 GW.
In a separate statement, EDPR parent Energias de Portugal ( EDP ) ( EDP.LS ) also announced plans to raise 1 billion euros in capital to buy the 44% it does not control in subsidiary EDP Brasil ( ENBR3 ). .SA).
EDP said it had agreed to jointly subscribe to a capital increase of up to 600 million euros with China Three Gorges, its largest shareholder, as well as Lisson Grove Investment and an affiliate of the Abu Dhabi Investment Authority.
The final price has not yet been determined.
China Three Gorges owns 21% of EDP, Portugal’s largest utility, and the two companies have had a strategic partnership since 2011.
($1 = 0.9399 euros)
Reporting by Sergio Goncalves; Edited by David Latona and Shri Navaratnam
Our standards: Thomson Reuters Trust Principles.
2023-03-02 11:10:58
Source – reuters
Translation“24 HOURS”