EDP's President Antonio Mexia stated at a press conference on December 20 that China Three Gorges Corporation and EDP are currently exploring multiple wind farm investment projects located in Europe, Asia, North America, and Latin America.
The participation of China Three Gorges Corporation in EDP's wind farm investment projects is part of the agreement when Three Gorges acquired a 21.35% stake in EDP, where Three Gorges agreed to absorb a quarter of EDP Renováveis' debt for €359 million and obtain a 49% equity stake in the company.
Since China Three Gorges Corporation became the largest shareholder of EDP, the China Development Bank agreed to finance EDP with €1 billion in July this year, and the Bank of China announced in October that it would provide €800 million in financing to EDP. This agreement was signed on December 20 at the Electricity Museum in Lisbon, with Huang Hong, General Manager of the Bank of China's Luxembourg branch, and Nuno Alves, EDP's Chief Financial Officer, representing both parties in signing the agreement.
Nuno Alves, EDP's Chief Financial Officer, stated that EDP will also receive another €1 billion loan from another Chinese bank in 2014.
Guo Deqiu, Director of the Corporate Finance Headquarters of the Bank of China, said at the signing ceremony that China and Portugal established a comprehensive strategic partnership in 2005, and bilateral cooperation has since entered a new stage of development. EDP has rich experience and advanced technology in clean energy, as well as the ability to withstand economic risks, making its operations very stable. The Bank of China is the most internationally oriented state-owned commercial bank in China and is very willing to cooperate with high-quality enterprises like EDP. He expressed confidence in EDP's future and hopes for a win-win situation in the cooperation between both parties.
On December 18, Cao Guangjing, Chairman of China Three Gorges Corporation, stated in Lisbon that the successful investment in EDP - Energias de Portugal will attract other Chinese enterprises to the Portuguese market. At the press conference on the 20th, Cao Guangjing emphasized that the trust of China’s largest bank in EDP is very important for its future development, although this financing was difficult to obtain due to unfavorable timing. He expressed gratitude to the Bank of China as the largest shareholder of EDP.
Chairman Cao Guangjing's visit to Portugal lasted a week, during which he attended the event at the Electricity Museum on the 20th and previously met with Portuguese President Cavaco Silva and Prime Minister Passos Coelho, discussing the group's goal of acquiring an additional 4.24% stake in EDP. These shares are still held by the Portuguese government through the state-owned holding company Parpública - Participações Públicas.
EDP is the largest industrial enterprise in Portugal, primarily engaged in clean energy generation, with operations covering Portugal, Spain, Belgium, Poland, Romania, France, the United States, and Brazil. In 2011, EDP's sales revenue reached €15.1 billion, a year-on-year increase of 7%, accounting for approximately 9% of Portugal's GDP, and achieving a profit of €1.33 billion.