Energias de Portugal

Last updated
EDP - Energias de Portugal, S.A.
Sociedade Anónima
Traded as Euronext:  EDP
ISIN PTEDP0AM0009  OOjs UI icon edit-ltr-progressive.svg
Industry Electric utility
PredecessorCompanhias Reunidas de Gás e Electricidade
FoundedJune 30, 1976 (1976-06-30)
HeadquartersAvenida 24 de Julho, 12, Lisbon,
Key people
Luís Amado (Chairman)
António Mexia (CEO)
Products Electrical power
natural gas
Services Electricity generation and distribution, natural gas distribution
Revenue 15,746 M (2017) [1]
€2,316 M (2017) [2]
€1.113 M (2017) [3]
Total assets €42.075 billion (2017) [4]
Total equity €13.480 billion (2017) [5]
Number of employees
12,084 (2015)
Subsidiaries HC Energía, Naturgás (through HC Energía), EDP - Energias do Brasil, EDP Distribuição, EDP Energia, EDP Renováveis (75%), Companhia de Electricidade de Macau (21%)
Website www.edp.com

EDP - Energias de Portugal (formerly Electricidade de Portugal) is a Portuguese electric utilities company, headquartered in Lisbon. It was founded in 1976 through the merger of 14 nationalised electricity companies. [6]

Contents

History

EDP was founded as Electricidade de Portugal, E.P. by the Portuguese government though the Decreto-lei nº 502/76 published on June 30, 1976, [7] merging 14 former energy companies that had been nationalised by 1975 in the aftermath of the regime change in 1974, of which the most significant had been the Companhias Reunidas de Gás e Eletricidade (CRGE). The Portuguese state privatised the company in several phases, from 1996 to 2011.

In March 2007 the group made a US$3 billion takeover of Horizon Wind Energy, the Texan-based wind power producer. At the time, it was the largest renewable energy deal to date and made EDP the fourth largest wind power producer in the world. [8] 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. [9] [10] [11] 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. [12] Amongst the others were the Qatar Investment Authority and BlackRock.

In late 2018 EDP's largest shareholder, China Three Gorges Corporation, proposed a hostile takeover of EDP. This was ultimately rejected at the shareholders meeting on April 24, 2019. [13]

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. [14]

In November 2019 EDP announced that it had reached a 50/50 Joint Venture agreement with the French gas and power company Engie to merge their fixed and floating offshore wind power activities, primarily targeting markets in Europe, the United States and selected geographies in Asia. [15]

Foundation

The EDP Foundation is a non-profit organization set up and financed by the company as a means to foster the development of cultural, scientific and educational activities. [16] It is headquartered at Central Tejo, a former CRGE-owned 50 MW coal-powered plant at the Lisbon riverfront, decommissioned in the 1960s. Since 1990 it houses the Electricity Museum, recently incorporated in the broader MAAT – Museum of Art, Architecture and Technology, which is the main focal point of the foundation's activities.

Carbon intensity

YearProduction (TWh)Emission (Gt CO2)kg CO2/MWh
20023926.9690
20034323.25536
20043923.89614
20054228.26677
20064324.48565
20074323.42544
20084019.78500
20094220.01477

See also

Related Research Articles

EDP may refer to:

Renewable energy in the European Union

Renewable energy plays an important and growing role in the energy system of the European Union. The share of energy from renewable sources in gross final consumption of energy was 17% in 2016. This is double the share in 2004 with 8.5%. The Europe 2020 strategy includes a target of reaching 20% of gross final energy consumption from renewable sources by 2020, and at least 27% by 2030. These figures are based on energy use in all its forms across all three main sectors, the heating and cooling sector, the electricity sector and the transport sector.

CPFL Energia company

CPFL Energia is the second largest non state-owned group of electric energy generation and distribution in Brazil and the third biggest Brazilian electric utility company, after Eletrobras and Energisa. The corporation is composed by CPFL Brasil, CPFL Piratininga, CPFL Paulista, CPFL Geração, CPFL Renováveis, Rio Grande Energia (RGE) and SEMESA. Each of these companies operates as a holding company that owns dozens of other companies. Its headquarters are located in Campinas, the third largest city in state of São Paulo.

Renewable energy in Portugal was the source for 25.7% of energy consumption in 2013. In 2014, 27% of Portugal's energy needs were supplied by renewable sources. In 2016, 28% of final energy consumption in Portugal came from renewable sources, an increase against the previous year (27%).

Wind power in Portugal

Wind power is a major source of electricity in Portugal. As of December 2013, wind power capacity in Portugal was 4,731 MW. Wind share of total electricity consumption was 23% saving nearly 8,182,900 tonnes of carbon dioxide emissions.

Engie French multinational electric utility company

ENGIE is a French multinational electric utility company, headquartered in La Défense, Courbevoie, which operates in the fields of energy transition, electricity generation and distribution, natural gas, nuclear, renewable energy and Petroleum.

EDP Renewables North America and its subsidiaries develop, construct, own, and operate wind farms and solar parks throughout North America.

EDP Renováveis company

EDP Renováveis is a leading renewable energy company registered in Oviedo and headquartered in Madrid that designs, develops, manages and operates power plants that generate electricity using renewable energy sources.

The EDP Peştera Wind Farm is located in Peștera a commune in the Constanţa County of Dobruja. Costing €200 million, the wind farm consists of 30 three-bladed Danish wind turbines, each capable of generating 3 megawatts (MW) of power, giving a total output of 90 MW. The EDP Peştera Wind Farm is the sister project of the EDP Cernavodă Wind Farm, a 138 MW wind farm located 10 kilometres (6.2 mi) west of the Peştera farm close to the Cernavodă Nuclear Power Plant and the Danube – Black Sea Canal.

Manuel Pinho Portuguese economist

Manuel António Gomes de Almeida de Pinho is a Portuguese former Minister of Economy and Innovation (2005–09) who was indicted in 2017 and re-indicted in 2019 on multiple charges of passive corruption and money laundering for having improperly benefited, while he was in office, Portugal’s EDP-Energias de Portugal electricity company by at least 1.2 billion euros in exchange for at least 4.5 million euros in compensation to him in the form of secret monthly payments from his former employer the Espírito Santo Financial Group into offshore accounts in Pinho and his wife's names; and payments by EDP-Energias de Portugal to Columbia University to hire Pinho after he left government.

Electricity Museum coal power plant

Tejo Power Station is a cultural centre that presents the evolution of energy with a Museum of Science and Industrial Archaeology concept, where themed and experimental exhibits live side by side with a great variety of cultural events. Located in the Belém area on terrain Lisbon usurped from the Tagus river at the end of the 19th century, in one of the city's areas with the greatest concentration of historical monuments where one can find, among others, the Jerónimos Monastery, the Belém Cultural Centre, the Tower of Belém, the Padrão dos Descobrimentos, the Portuguese Presidential Palace and Museum, the Coach Museum or the Cordoaria Nacional . A building classified as a Public Interest Project, the Electricity Museum unfolds along the perimeter of the old thermoelectric plant – the Tejo Power Station, which illuminated the city of Lisbon for more than four decades.

The EDP Cernavodă Wind Farm is located in Cernavodă, Constanţa County, Romania. It has 46 individual wind turbines with a nominal output of around 3 MW which delivers up to 138 MW of power, enough to power over 85,000 homes, which required a capital investment of approximately €200 million. The project was undertaken and commissioned between 2010 and May 2011. The substation control system is based on ABB MicroSCADA Pro technology using LON and DNP protocol communication with field equipment and IEC104 with two dispatch centres situated in Oporto, Portugal and Bucharest, Romania|. The control and protection system was designed and engineered by Spanish company GEDLux Sistemas de Control. The EDP Cernavodă Wind Farm is the sister project of the EDP Peştera Wind Farm, a 90 MW wind farm which is currently operating and located 10 kilometres (6.2 mi) east of the Cernavodă farm close to the Cernavodă Nuclear Power Plant and the Danube – Black Sea Canal.

The China Three Gorges Corporation is a Chinese state-owned power company, established on 27 September 1993. The company was responsible for construction of the Three Gorges Dam-project, the world largest hydroelectric power plant, that went into operation in 2008. In September 2002, CTG established the subsidiary company China Yangtze Power, which took over operations and management of Gezhouba and Three Gorges dams. CTG is one of the world's largest energy companies with total assets of RMB 475.5 billion in 2014.

Picote Dam dam in municipality Miranda do Douro, Bragança District, Portugal

Picote Dam is a concrete arch dam on the Douro, located in the municipality Miranda do Douro, in Bragança District, Portugal.

Bemposta Dam dam in municipality Mogadouro, Bragança District, Portugal

Bemposta Dam is a concrete arch dam on the Douro, where the river forms the national border line between Spain and Portugal. It is located in the municipality Mogadouro, in Bragança District, Portugal.

Bouçã Dam dam in municipality Pedrógão Grande, Leiria District, Portugal

Bouçã Dam is a concrete double curvature arch dam on the Zêzere River, where the river forms the border line between the districts of Castelo Branco and Leiria. It is located in the municipality Pedrógão Grande, in Leiria District, Portugal.

Caniçada Dam dam in Braga, Vieira do Minho, Parada do Bouro

The Caniçada Dam is a concrete arch dam on the Cávado River, the civil parish of Parada do Bouro, in the municipality of Vieira do Minho, in the Portuguese Norte (district of Braga. It is owned by Companhia Portuguesa de Produção de Electricidade.

Pocinho Dam dam in municipality Vila Nova de Foz Côa, Guarda District

Pocinho Dam is a concrete gravity dam on the Douro, where the river forms the border line between the districts of Guarda and Bragança. It is located in the municipality Vila Nova de Foz Côa, in Guarda District, Portugal.

Roberto Sahade is a Brazilian business man, founder of GMR Energia group, a family corporation, with investments in power generation in Latin America, mainly Brazil, Chile and Perú.

Museum of Art, Architecture and Technology Museum of art, science and industrial archeology and exhibition center in Lisbon, Portugal

The Museum of Art, Architecture and Technology (MAAT) is a museum in Lisbon, Portugal.

References

  1. "EDP Energias de Portugal SA (EDP.LS)". Reuters. Thomson Reuters. Retrieved 29 January 2019.
  2. "EDP Energias de Portugal SA (EDP.LS)". Reuters. Thomson Reuters. Retrieved 29 January 2019.
  3. "EDP Energias de Portugal SA (EDP.LS)". Reuters. Thomson Reuters. Retrieved 29 January 2019.
  4. "EDP.PT Annual Balance Sheet - EDP-Energias de Portugal S.A. - Wall Street Journal". The Wall Street Journal. Dow Jones & Company, Inc. Retrieved 29 January 2019.
  5. "EDP.PT Annual Balance Sheet - EDP-Energias de Portugal S.A. - Wall Street Journal". The Wall Street Journal. Dow Jones & Company, Inc. Retrieved 29 January 2019.
  6. "Na pré-história da EDP e da REN, existiam 14 companhias e um país virado para a "hulha branca"". Público. Retrieved 17 June 2019.
  7. "Decreto-lei nº502/76". dre.tretas.org. Retrieved 17 June 2019.
  8. "Portugal sells utility stake to China for $3.5 billion in 1st privatization linked to bailout". The Washington Post . Associated Press. 2011-12-22. Retrieved 2011-12-22.
  9. "Chinese win EDP tender". The Portugal News. 2011-12-29. Archived from the original on 2012-04-26. Retrieved 2011-12-29.
  10. Wayne Ma; Kowsmann, Patricia (2011-12-23). "China Gets Stake in Portugal's EDP". The Wall Street Journal . (subscription required). Retrieved 2011-12-30.
  11. "EDP: "Shareholder Structure" 20 Feb 2014". Archived from the original on 10 March 2014. Retrieved 22 February 2014.
  12. "OPA/EDP: CMVM extingue procedimentos relativos às ofertas da China Three Gorges". Diário de Notícias. Retrieved 17 June 2019.
  13. "Archived copy". Archived from the original on 2008-03-17. Retrieved 2008-03-06.CS1 maint: archived copy as title (link)
  14. https://www.edp.com/en/news/2019/05/21/edp-and-engie-join-forces-create-a-leading-global-offshore-wind-player-0
  15. "About us". EDP Foundation. Retrieved 18 June 2019.