In a statement sent to Portugal’s stock markets commission, the CMVM, the company added that the project may also attract other investors.
Under the new agreement, China Three Gorges EU is to acquire a stake of up to 30 percent in Moray Offshore Renewable Limited, the local unit of EDP Renováveis that is running the project.
Moray secured a licence from the UK state to develop an offshore wind-park in the area in January 2010. In March 2014, it secured authorisation from the Scottish government to develop up to 1,116MW of offshore power capacity.
In related news, EDP has also revealed that it distributed 1.5 percent more electricity to the Iberian Peninsula in the first nine months of this year, the company reported in a separate statement sent to the CMVM.
The statement, based on “provisional operational data” for this period, referred to this rise as stemming from a “recovery in economic activity” with EDP boosting its own installed capacity by eight percent over this period to deploy 24GW of generating power.
The CMVM directed statement pointed out that this was due to both “new wind and solar power” (+1.104MW), the “full consolidation of the coal power station in Pecém, Brazil” (+720MW) and “new hydro-electric capacities in Portugal” (+111MW).
Total production grew by four percent through the first three quarters of this year with greater thermal production taking place on the Iberian Peninsula and in Brazil with higher wind power capacity operationally deployed in both Europe and the United States.
Combined hydro and wind power accounted for 69 percent of the total EDP energy output over the first nine months of this year.
However, there was a blip in the EDP performance with total energy distribution down by nine percent over this period due essentially to the disposal of natural gas networks in the Spanish regions of Murcia, Extremadura and Girona in late 2014.