Americans are "paying attention" to China's influence at EDP

Cascais, October 24, 2019 - 2019 MOBI Summit - António Mexia (CEO of EDP).

(Carlos Manuel Martins/Global

Cascais, October 24, 2019 - 2019 MOBI Summit - António Mexia (CEO of EDP). (Carlos Manuel Martins/Global Imagens)

  |  Carlos Manuel Martins / Global Imagens

Amid the US-China trade war, the Trump administration will "keep monitoring" the Portuguese electricity company, which is "influenced" by Beijing's shareholders and has "important investments" in the US.

Six months after the failure of the Chinese takeover bid for EDP due to the attempt to change the voting system, the US - where EDP has important wind energy investments - remains vigilant. This was confirmed by the Deputy Assistant Secretary of the US Department of Energy (DOE) at a meeting with journalists held by the US ambassador to Lisbon.

Between China Three Gorges - the largest EDP shareholder (23.27%) - and CNIC (4.34%), China owns more than a quarter of the Portuguese company's equity. On the other hand, according to Michael Considine, EDP "is a very important investor in the American electricity grid." China's stake gives it significant influence over the company's administration, and the DOE believes it is critical to "keep monitoring" this presence.

Read more in Dinheiro Vivo

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