Breaking News

Tweet TWEET

Endesa to Reconsider Investment in Portuguese Dams, Diario Says

Endesa SA (ELE) will reconsider an ongoing investment of 500 million euros in two dams in the Mondego river in northern Portugal, Diario de Noticias reported, citing Nuno Ribeiro da Silva, who heads the utility’s Portuguese unit.

Endesa had already announced it would stop its Pego power plant after the government decided to suspend so-called capacity guarantee payments, the Portuguese newspaper said. The suspension of the payments was a measure included in Portugal’s financial aid program, Noticias reported.

The decision also affects EDP-Energias de Portugal SA’s power plants in Lares, Ribatejo and Alqueva, according to Noticias.

Click here for web link

To contact the editor responsible for this story: Joao Lima at jlima1@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.