Utility Energias de Portugal (EDP) has signed an agreement with Eviva Energy S.A. for joint development of hydroelectric projects in Portugal’s Vouga and Paiva river basins.
EDP said June 27 that it and Eviva, a subsidiary of Martifer SGPS S.A., agreed to guidelines for a partnership to identify, analyze, and eventually develop opportunities for joint execution of hydro plants in the two basins. EDP unit EDP Producao is to own 55 percent of the joint venture and Eviva 45 percent.
EDP said the agreement is in line with its existing plan for new hydro development in Portugal. Earlier this year, EDP said it plans to invest 2.5 billion euros (US$3.28 billion) in hydroelectric plants in coming years. (HNN 6/19/07) Chief Executive Officer Antonio Mexia said he expects to boost EDP’s total hydroelectric power to 7,000 MW with those investments from the current 4,404 MW.
Portugal’s Jornal de Noticias reported this month that Eviva received approval of regulator Comissao de Coordenacao e Desenvolvimento Regional do Centro to use hydraulic resources of the Vouga River to produce hydropower at proposed Ribeiradio and Ermida dams. In addition to hydropower, the 75-meter-tall Riberaido Dam and 29.5-meter-tall Ermida Dam would be used for flood control, water supply, and irrigation.