Earlier this year, EDP Producao, a unit of utility Energias de Portugal, and Eviva Energy, a development subsidiary of the Martifer holding company, signed an agreement for joint development of hydroelectric projects in Portugal's Vouga and Paiva river basins. (HNN 6/28/07)
Martifer announced December 17 that Portugal's water agency, Instituto da Agua, made the provisional award following a public tender in November.
The joint venture, owned 55 percent by EDP Producao and 45 percent by Eviva, is expected to invest 123 million euros (US$176.8 million) in the project.
The hydroelectric development is to include the 75-meter-tall Riberaido Dam and 29.5-meter-tall Ermida Dam, which are to generate 129 gigawatt-hours annually and to provide flood control, water supply, and irrigation.
Ribeiradio/Ermida is the first project undertaken by the partnership to identify, analyze, and eventually develop opportunities for joint execution of hydro plants in the two basins.