Portuguese company assumes 7.5% control of Mozambique utility

MAPUTO, Mozambique 7/9/12 (PennWell) -- Portuguese energy company Redes Energeticas Nacionais has acquired a 7.5% share of Hidroelectrica de Cahora Bassa, HydroWorld.com has learned.

REN's acquisition is a step in a transaction previously reported by HydroWorld.com in April, which will eventually see those shares transferred to the Mozambique government in exchange for a stake in a yet-to-be-established company that will operate the country's new Centre-South (CESUL) transmission project.

Mozambique previously acquired 85% control of HCB through a US$700 deal in 2007, then picked up an additional 7.5% in September at a cost of $42 million.

After REN's shares are transferred to Mozambique, it will give the country full control of HCB and its 2,040-MW Cahora Bassa plant on the Zambezi River.

HydroVision International 2014 Keynote Speakers

Presenting the HydroVision International 2014 Keynote Speakers

Check out a slideshow covering the keynote speakers at the HydroVision International 2014 conference and exhibition

Click Here >>

Hydro Industry Financials

Most Read Articles

Recent Comments

Buyers Guide Companies

USAT Corp

Cellular communication experts for wireless dat...

Nivus GmbH

The product range contains units for measuring ...

CAS DataLoggers

Manufactures data acquisition and control syste...

Bridgestone Associates Ltd

Consults, evaluates, acquisition due diligence ...

KISTERS North America Inc

Develops industry-leading off-the-shelf solutio...

Continuing Education

Professional Development Hours
To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

07/01/2014
Volume 33, Issue 6
file
07/01/2014
Volume 22, Issue 4
file

Archived Articles

2006 | 2007 | 2008 | 2009 | 2010 2011 | 2012 | 2013
Hydro Review Past Issues