EDP Mulls International Co-Operation With Sonatrach and IPIC

Energias de Portugal is considering the prospect of extending its co-operation with Algerian state-owned energy company Sonatrach and Abu Dhabi-based International Petroleum Investment Company, to international markets, according to Thomson Financial.

Energias de Portugal (EDP) is reportedly considering growth prospects in the renewable energy business in the Middle East and Eastern Europe, with the co-operation of International Petroleum Investment Company (IPIC).

Meanwhile, EDP is holding negotiations with Sonatrach over the possibility of the Algerian group participating in Spanish power plant projects.

IPIC, which holds a 2% stake in EDP, will be raising its stake to 5%. Sonatrach, which holds a 2% stake in EDP, is also reportedly considering an increase of its interest in the Portuguese utility, according to industry observers.