|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.64 - 8.77|
|52 Week Range||7.15 - 9.17|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 8, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.32|
Portuguese utility company EDP announced plans to sell 2 billion euros' (1.7 billion pounds) worth of assets in Portugal and Spain, and raise another 4 billion euros via an asset rotation programme until 2022 to fund its expansion in renewable energy. EDP-Energias de Portugal is the target of a 9 billion euro takeover proposal by China Three Gorges (CTG), which the EDP board has rejected as too low and which is opposed by activist shareholder Elliott Advisors. In a strategic update on Tuesday EDP also earmarked 12 billion euros for capital expenditure between 2019 and 2022, with 75 percent of that to be spent in North America and Europe, CEO Antonio Mexia told investors and analysts during a presentation in London.
A French wind power tender has attracted interest from a slew of international energy heavyweights, signalling that France's offshore wind industry could finally be taking off after years of missteps. While Britain and Germany have already built 8,200 and 6,400 megawatts (MW) of offshore wind capacity - enough to power millions of homes - France does not have a single turbine in the water. In two previous French tenders, in 2012 and 2014, a bumper 3,000 MW of capacity worth 11 billion euros (9.7 billion pounds) was awarded, but the projects have not materialised because of public opposition and contract wrangles.
Westminster, CO, Feb. 12, 2019 -- Today, Tri-State Generation and Transmission Association (Tri-State) and EDP Renewables (EDPR) announce a 104 megawatt (MW) 15-year power.
BRUSSELS/LONDON/HONG KONG (Reuters) - China Three Gorges halted talks with EU regulators about its proposed 9 billion euro (£8 billion) takeover of Portugal's EDP-Energia de Portugal over a month ago, two sources close to the matter said, casting doubt on whether the deal will progress. CTG launched a bid to take control of EDP, of which it already owns 23 percent, in May last year, but the transaction has moved at a slow pace. Sources say CTG has yet to complete regulatory filings in Europe and the United States, although Portugal's regulator said there are no signs the Chinese state-owned utility is preparing to abandon the deal.
German utility EnBW (EBKG.DE) could seek more partners in its planned push into the burgeoning U.S. offshore wind sector, its chief executive said. EnBW has already formed a joint venture with project developer Trident Winds to cater to the U.S. west coast but is so far working alone on the booming east coast, where it set up a subsidiary in the fourth quarter of 2018. "We're open to partnerships also in the offshore business," Frank Mastiaux told Reuters at the annual Handelsblatt energy conference in Berlin.
By Sergio Goncalves and Catarina Demony LISBOA, Dec 4 (Reuters) - A China quer aprofundar a parceria estratégica com Portugal, reforçando os projectos actuais e as trocas comerciais, visando criar novos ...
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it Read More...
Portuguese wind energy group EDP Renovaveis said on Wednesday it expected to exceed its 2020 goal for increasing capacity by more than 10 percent. EDPR, a subsidiary of EDP Energias de Portugal, also said in a presentation it had secured projects to add capacity of more than 1 gigawatt after 2020, adding that its growth strategy was not affected by adverse cyclical factors that have weighed on its earnings this year. EDP and EDPR are both targets of a takeover offer by China Three Gorges, which is still subject to regulatory approvals in various countries.
French solar company Neoen is targeting a market capitalisation of 1.4-1.5 billion euros ($1.6-$1.7 billion) (1.3 billion pounds) in an initial public offering (IPO) to fund its international expansion. The IPO will make Neoen one of the few pure-play listed renewable energy operators in Europe, along with Portugal's EDPR (EDPR.LS), Denmark's Orsted (ORSTED.CO), Norway's Scatec Solar (SSOL.OL) and France's Voltalia (VLTSA.PA). Neoen, the largest independent French renewable energy firm competing with market leaders EDF (EDF.PA) and Engie (ENGIE.PA), will raise 450 million euros of new capital while two fund shareholders will sell existing shares worth 190 million euros, for a total offer of 640 million euros worth of shares.
China Three Gorges has held talks with European utilities to gauge their interest in buying EDP's U.S. renewables business, as it looks to smooth the path for its planned takeover of the Portuguese company, three sources familiar with the matter said. The aim of identifying potential buyers is to preempt any objections from U.S. authorities, who are increasingly scrutinising Chinese acquisitions of American assets in strategic industries and could block the proposed takeover of EDP, the banking sources told Reuters. China Three Gorges, a Chinese state-owned utility, has sounded out European firms including Italy's Enel, Spain's Iberdrola, France's Engie and German firms E.ON and RWE, the sources said.
China Three Gorges has held talks with European utilities to gauge their interest in buying EDP's U.S. renewables business, as it looks to smooth the path for its planned takeover of the Portuguese company, ...
In this article I am going to calculate the intrinsic value of EDP Renováveis SA (ELI:EDPR) by taking the expected future cash flows and discounting them to their present value.Read More...
French gas and power group Engie (ENGIE.PA) said it is not preparing for and is not considering a takeover of Portuguese renewable energy developer EDP Renovaveis (EDPR) (EDPR.LS). Bloomberg reported on Monday that Engie was considering a bid for EDPR, a unit of Portuguese utility EDP (EDP.LS), and that Engie was working with advisers on evaluating offers for all or part of the firm. "Engie is not preparing for or even considering an offer for EDPR.
Engie is working with advisers on evaluating offers for all or part of EDP Renovaveis SA, the report said, citing people with knowledge of the matter. Engie and EDP were not immediately available for comment. State-owned China Three Gorges last month launched a 9 billion euro bid to take over both EDP and EDPR, offering 3.26 euros a share and 7.33 euros a share respectively - both of which were rejected by the Portuguese utility as not reflecting the value of the company.
France’s Engie SA and Denmark’s Orsted A/S are among suitors considering a bid for the 7.6 billion-euro ($8.9 billion) renewables unit of EDP-Energias de Portugal SA, according to people with knowledge of the matter, adding a potential new twist to China Three Gorges Corp.’s pursuit of the company and its parent. Engie and Orsted are working with advisers on evaluating offers for all or part of EDP Renovaveis SA, the people said, declining to be identified as the discussions are confidential. Paris-based Engie is most interested in the firm’s U.S. portfolio, but is considering making a bid for the complete renewables unit, two of the people said.
Utility company EDP (EDP.LS) may balk at the meagre 5 percent premium offered for its shares by China Three Gorges (CTG) but the battle for Portugal's biggest business has largely played out already. To some it looks like a lowball bid, but Portugal has welcomed the offer because it considers the Chinese firm's pledge to keep EDP-Energias de Portugal intact more important than the price and it wants closer ties with a country that has ploughed billions into its economy. The Chinese state-owned hydropower giant became EDP's biggest shareholder in 2011.
China's state-owned utility China Three Gorges on Friday launched a bid to take control of Portugal's biggest company EDP, offering a premium of just below 5 percent on the power firm's closing stock price. The total value of the proposed deal is 9.07 billion euros ($10.83 billion), excluding a 23 percent stake already owned by CTG [CYTGP.UL], the Chinese firm and largest EDP (EDP.LS) shareholder said in a statement issued late on Friday in Lisbon. Reports that EDP may be an acquisition target of European foreign companies have been circulating for over a year, during which CTG continued to raise its stake, culminating in the 3.26 euros ($3.89) a share offer.
Trading in the shares of utility company EDP-Energias de Portugal (EDP.LS) was suspended on Friday, as media reported that a Chinese group was set to make a takeover bid for the firm. A spokeswoman for Portugal's market regulator CMVM said the shares were suspended pending an announcement about the company but would not provide more details or comment on media reports. The online edition of the Expresso newspaper said earlier that a Chinese consortium that includes EDP's largest shareholder, China Three Gorges (CTG), was preparing a takeover bid for Portugal's leading company by assets.
Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like EDP Renováveis SA. (ENXTLS:EDPR), with a market cap of €6.92B, are often out of theRead More...