EDP aims to double size in Brazil

SãO PAULO, January 22, 2019 – The local subsidiary of power company Energias de Portugal (EDP) plans to double its size in Brazil by next year, international media reported on Monday.

Energias do Brasil, at it is known in the country, is already the eighth-largest domestic power company, but aims to ramp up investments in the transmission and distribution segments to BRL 3 billion (USD 801 million) by 2023, Bloomberg said.

The EDP subsidiary expects that its transmission activities will grow to represent 20% of its portfolio. Additionally, the company is eyeing opportunities for acquisitions in areas in which it is well established, as well as in new areas such as solar.