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Portuguese Competition Authority approves acquisition of two wind power plants by EDP (Energias de Portugal)

The acquisition by EDP's fully owned subsidiary Enernova of the two wind farms Ortiga and Safra was cleared by the Portuguese Competition Authority following in-depth investigation started in June 2005. The Authority cleared the merger with an undertaking by the parties not to make strategic use of the power plants. CRA assisted EDP throughout the proceedings, providing economic arguments on why any strategic withholding of wind power would be unlikely to be feasible and profitable for EDP. Giulio Federico of CRA appeared for EDP before the Portuguese Competition Authority. A similar transaction by EDP was subsequently cleared by the Authority at the end of November 2005.

See Portuguese Competition Authority Press Release

The non-confidential version of CRA's report for EDP is available on the Portuguese Competition Authority's website.

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