Portugal

Portugal

Wind Wire: Investing in Africa

Portuguese energy group Energias de Portugal (EDP) has signed a memorandum of understanding with Angola's state oil and energy company Sonangol Holdings, local bank Banco Privado Atlantico (BPA) and Portugal's Finicapital, to invest in conventional and renewable energy in Angola, including wind.

The aim is to set up a holding company in which EDP, Sonangol and BPA each have a 30% share, with Finicapital retaining the remaining 10%. It will be valid for five years.

 

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