EDP – Energias do Brasil, whose parent company EDP Portugal is majority-owned by China Three Gorges, is buying Brazil’s Celg Transmissão S.A. (CELG-T) for US$365 million.
According to EDP, its Brazilian subsidiary won the public auction to acquire 100 per cent of the capital of Celg Transmissão for BRL 1.977 billion.
CELG-T’s grid extends over 755.5 kilometres and it operates 14 substations, located predominantly in the south-central state of Goiás, which is home to the national capital Brasília.
EDP added that the concession term extends for two decades and that the annual allowed revenue is BRL 223 million, relating to the 2021/2022 cycle.
EDP added that this transaction is in line with its growth strategy in regulated electricity networks in Brazil.
The transaction is pending applicable regulatory approvals. EDP owns 54.89 per cent of EDP – Energias do Brasil, reported CLBrief.