OREANDA-NEWS. July 27, 2011. China Power International over the last few days has increased its contacts with Portugal with a view to taking a stake in Portuguese power company EDP – Energias de Portugal.

 According to Portuguese financial daily newspaper, Diario Economico, representatives of the Hong Kong-based company were in Lisbon Friday, to meet with the Portuguese government.

 The newspaper reported that, “China power’s objective is to acquire 10 percent of EDP.”

 Last week US news agency Dow Jones reported that China Power was interested in taking a stake in EDP, as part of the privatisation of the company outlined in the Portuguese Government Programme and the memorandum outlined by the “troika”.

 This is not the first time that China Power has been named as an interested party for taking a stake in the Portuguese electricity company.

 EDP chairman, Antonio Mexia, in November signed a protocol with the Hong Kong electricity company, according to which China Power International would become a potential, “significant shareholder,” in the Portuguese company.