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ENGIE and partners acquire hydroelectric portfolio for €2.2 billion

Christian Fernsby |
ENGIE, together with its consortium partners Crédit Agricole Assurances and Mirova, an affiliate of Natixis Investment Managers, got a competitive process conducted by EDP for the acquisition of a hydroelectric portfolio in Portugal, for an enterprise value and consideration of €2.2 billion.

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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.

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