China Three Gorges acquires hydroelectric project from EDP in Peru

EDP is planning to give its largest shareholder, China Three Gorges (CTG), a 50 per cent stake in the $500 million San Gaban III hydroelectric project in Peru. As per the reports, CTG already owns the other 50 per cent of San Gaban, and will acquire the sole shareholder of this hydroelectric facility. San Gaban dam has a capacity of 206 MW. This hydropower plant received a $365 million, 19-year financing from the China Development Bank at a cost of $560 million.

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