The European Commission said on December 6 that the EC has approved, under the EU Merger Regulation, the acquisition of joint control over the joint venture Windplus SA of Portugal by Chiyoda Generating Europe Limited (CGE) and Diamond Generating Europe Limited (DGE), both of the UK, EDP Renewables, SGPS, SA (EDPR) of Portugal, Trustwind BV of the Netherlands, and Repsol Nuevas Energias SA (Repsol NE) of Spain.
Windplus will develop an offshore wind project and be active in the generation and wholesale supply of electricity in Portugal. CGE functions as the power generation business in Europe for Chiyoda Corporation, an engineering company. DGE functions as the power generation business inter alia in Europe for the Mitsubishi Corporation, a global integrated business enterprise. EDPR is active in the generation of renewable energy and is ultimately controlled by EDP, a Portuguese utility company active in the generation, distribution and supply of electricity in Portugal and Spain.
Trustwind manages the wind power assets of TrustEnergy BV, a joint venture between Engie, a global energy player, and Marubeni, an integrated trading and investment business conglomerate. Repsol NE develops a business related to renewable energy and belongs to Repsol SA, an integrated energy company in the oil and gas industry.
The Commission said the EC concluded that the proposed acquisition would raise no competition concerns given the negligible actual and foreseen activities of Windplus within the European Economic Area.