Type Sociedade Anónima Industry Electric utility Founded 1976 | Traded as Euronext: EDP Headquarters Lisbon, Portugal Revenue 15.52 billion EUR (2015) | |
Key people Eduardo Catroga (Chairman)
António Luís Guerra Nunes Mexia (CEO) Products Electrical power
natural gas Services distribution
natural gas distribution Stock price EDP (ELI) € 2.83 -0.01 (-0.32%)10 Mar, 5:06 PM GMT+1 - Disclaimer Subsidiaries EDP Renováveis, EDP - Energias do Brasil | ||
EDP - Energias de Portugal (formerly Electricidade de Portugal) ranks among Europe's major electricity operators, as well as being one of Portugal's largest business groups. In December 2011, China Three Gorges Corporation acquired a 21.35% Portuguese government's stake in EDP for €2.69 billion.
Operations
The Group became the first Iberian company to own significant generating and distribution assets in both sides of the border, with a controlling position in the Spanish company HC Energía, and it is also present in the electricity sectors of Latin America – with a major presence in the United States, Brazil, Africa and Macau, in the generation, distribution and trading businesses.
The EDP Group's activities are centered on the generation and distribution of electric power, as well as the information technologies areas. In addition, the group's business includes complementary and related areas, such as water, gas, engineering, laboratory testing, vocational training and real estate management. It once had businesses in the IT consulting (Edinfor) and telecommunications (ONI Telecom) sectors, but these were sold, respectively, to Logica and the private equity group The Riverside Company.
In 2006 35% of the energy produced by EDP was from renewable energy sources, and, as of the end of 2007, the company announced that 39% of its energy was already emissions-free and that it was aiming for a 75% renewable energy production by 2013. In March 2007 the group made a US$3 billion takeover of Horizon Wind Energy, the Texan-based wind power producer. This is the largest renewable energy deal to date and made EDP the fourth largest wind power producer in the world. The firm's renewables operations (including Horizon) are now contained within its majority-owned subsidiary EDP Renováveis, 25% of which was floated on the Lisbon Stock Exchange in 2008.
The company was ranked at position 239 in the 2009 issue of the Forbes Global 2000.
China Three Gorges Corporation, a SOE, won in December 2011 the bidding for the Portuguese government's 21.35% interest in the company. The transaction is expected to be concluded by April 2012. As of February 2014, just under 45% of the ownership of EDP was controlled by five institutional shareholders. Amongst the others were the Qatar Investment Authority and BlackRock.