EDP Producao, a wholly owned company of electricity utility EDP, has been awarded by the Portuguese government, the preliminary concession for the use of the hydro resource of the Foz Tua hydro plant for a period of 75 years.
In accordance with the tender conditions, EDP will pay to the Portuguese Water Institute, within five working days after the respective invoicing, an amount of E53.1 million for the concession.
This value is based on the tender assumption that the maximum reservoir level will be 160m. The effective maximum reservoir level and consequently the value to be paid for this concession, will depend on the final environmental impact study.
Considering the tender proposal submitted by EDP Producao for a maximum reservoir level of 195m, the installed capacity is around 324MW and the estimated investment is E340 million, these values being dependent on the final maximum reservoir level to be set.