EDP sold Small Hydro subsidiary to Aquila Capital

  • ECO News
  • 12 November 2018

Last Friday, the Portuguese power company, EDP, has revealed that the Small Hydro SA was sold to German company Aquila Capital, for €164m.

Portuguese power company EDP revealed on Friday it has sold to Germany’s Aquila Capital its Small Hydro SA subsidiary EDP Small Hydro for €164 million.

Small Hydro owns 21 small hydroelectric plants in Portugal, which have an average residual concession life of 14 years, EDP said.

These small hydroelectric plants are spread across Portugal’s north and central regions and have a total installed capacity of 103 megawatts, according to EDP.

The agreement is part of EDP’s plan to sell off non-core operations in the country.

EDP, which is currently being subject to an acquisition bid by China China Three Gorges, on Thursday said it had suffered a 74% drop in nine-month profit to €297 million, saying results had been “strongly penalised” by the government’s alleged overcompensation of costs of maintenance of contractual equilibrium (CMECs).