Portugal Hydro acquisition a big deal for all

16 Feb 2021

Fully involved in a project resulting in the successful acquisition of a 1.7 GW hydroelectric portfolio by ENGIE and partners Crédit Agricole Assurances and Mirova, Tractebel expertise has contributed to further strengthen ENGIE’s presence in Portugal and on the Iberian renewable market.

Working since 2019 on the acquisition of several EDP hydroelectric assets valued at EUR 2.2 billion, Tractebel contributed as Technical and Environmental advisors, as well as carrying out the technical Due Diligence of the facilities during the competitive bidding and tender preparation phase.

The input of Tractebel in the negotiations with EDP was key to implementing the integration process. It also helped to reach agreements with EDP on key issues such as the shared management of reservoirs, the environmental measures, and the services to be provided by EDP during the transition phase.

Our experts were also on hand to assist the ENGIE team in charge of the integration of the assets and in discussions with the Portuguese Environment Agency for the validation of the transfer of concessions.

 

“We can feel proud that our profound experience in the Hydro sector has helped ENGIE to increase its capacity to supply flexible, green energy in Portugal”, says Erkan Tekirdaglioglu, Tractebel's General Manager Water Business Line. “Whether the challenge be financial, contractual, environmental or technical, our ambition will always be to implement successful projects contributing to carbon neutrality”.

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