HC Energia agrees the sale of transmission assets to REE
Friday 8, June 2007
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HC Energia, EDP - Energias de Portugal, S.A. ("EDP") subsidiary in Spain, reached an agreement with Rede Eléctrica de España ("REE") for the sale of the electricity transmission assets that the company owns in the region of Valência, for €16.8 million. This transaction is subject to the approval of the Ministry of Industry.
This operation represents a first step for both companies to comply with the European Directive for the electricity market, which defines the existence of a single transmission network manager for each country.
After the conclusion of this operation, HC Energia still owns some electricity transmission assets in the region of Asturias.
EDP - Energias de Portugal, S.A.
After the conclusion of this operation, HC Energia still owns some electricity transmission assets in the region of Asturias.
EDP - Energias de Portugal, S.A.
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