Chinese energy companies expanding in Portugal

Water and sanitation are also new business areas for Chinese companies.

The Hanergy Solar Group said that it had agreed to buy solar energy parks in Portugal but did not name the seller. The parks have a total capacity of 2.2 megawatts.

Portuguese secretary of state for Energy, Artur Trindade said Portugal was attracting investments of several hundreds of millions of dollars in photovoltaic parks, mainly in the Alentejo region.

Chinese companies in Portugal also have a presence in power generation and distribution. China Three Gorges paid US$2.7 billion for 21.4% of EDP, becoming the Portuguese power company’s largest shareholder.

China State Grid Corporation acquired 25% of Portuguese power grid company Redes Energéticas Nacionais for 287.2 million euros.

Chinese investment in Portugal has more than doubled, exceeding a record of 1.1 billion euros in 2012.