Total buys Spanish power, gas assets from EDP

摘要

French oil major Total has bought a portfolio of 2.5 million retail gasand power customer contracts and two gas-fired power stations inSpain from Portugal’s EDP, the companies announced May 18.The Eur515 million ($557 million) deal includes the Castejon 1 andCastejon 3 combined cycle gas plants in Navarra near the Frenchborder, with a combined 843 MW of capacity, and a portfolio of 2.5million residential contracts, composed of 2.1 million held by EDPCommercializadora (100% EDP) and around 0.4 million by CHC, a jointventure between EDP and CIDE (formerly Hidrocantabrico), the lattertransaction being subject to CIDE agreement.