Moray Firth Turbines Project Could See 30% Aqcuired By Three Gorges Corporation Of China

24th October 2015

EDP Renováveis, through its subsidiary EDPR UK Limited, has entered into an investment cooperation agreement with China Three Gorges (CTG), whereby CTG would invest in and co-develop the Moray Firth project. CTG would acquire an up to 30% stake in Moray Offshore Renewable Limited (MORL).

A 10-20% stake would be acquired following the announcement of a new Contract for Difference (CfD) auction allocation round and a further 10% stake would follow, if MORL is awarded a CfD. Planned for a site in the North Sea off eastern Scotland, the 1,116MW project would be developed in phases.

The China Three Gorges Corporation is a state-owned Chinese power company, established on 27 September 1993. The company was responsible for construction of the Three Gorges Dam-project, the world largest hydroelectric power plant, that went into operation in 2008. In September 2002, CTGC established the subsidiary company China Yangtze Power, which took over operations and management of Gezhouba and Three Gorges dams. CTG is one of the world's largest energy companies with total assets of RMB 475.5 billion (app. USD 77.3 billion) in 2014.

Three Gorges Corporation Web Site - www.ctg.com.cn/en/

From the web site regarding the visit to Britain of the Chinese President Xi Jinping.

Group Portuguese electricity joint investment in offshore wind power and the inclusion of the results of the agreement Britain

During President Xi Jinping's state visit to Britain, the British sides signed a series of agreements and consensus. Among them, the China Three Gorges Group and Portugal's national power company signed a "joint investment and development on the UK MORAY offshore wind power project cooperation agreement", included a commercial agreement between the two countries ninth. Original title: Xi Jinping during a state visit to Britain outcome reached by the parties in Britain LONDON, October 21 countries during Chinese President Xi Jinping's state visit to Britain, Britain and China signed agreements and consensus reached as follows: between a government and non-commercial agreements (a) Development and Reform Commission and the British Treasury to sign "on Britain to strengthen infrastructure and public utilities, and other investment and financing including through a memorandum of understanding to cooperate in the field of franchising" (b) Development and Reform Commission and the UK business, Innovation and Skills signed the "on the strengthening of cooperation in new industries Memorandum of Understanding" (c) the Royal Customs Department and the Revenue and Customs Department signed the "on customs cooperation and mutual administrative assistance in matters of the Memorandum of Understanding" (iv) the Ministry of Commerce and the British International Development signed the "on the strengthening of cooperation for development, effective implementation of sustainable development goals Partnership Memorandum of Understanding" (v) Ministry of Commerce and the British Business, Innovation and Skills to sign "on the strengthening of the regional trade and investment cooperation between Britain and China Memorandum of Understanding" ( vi) National Energy Board and the Department of Energy and Climate Change British "Joint Declaration on strengthening bilateral cooperation in civilian nuclear energy package" (vii) National Energy Administration and the UK Department of Energy and Climate change "in the UK Clean Energy Partnership Memorandum of Understanding" (viii ) Development Research Center of the State Council and the United Kingdom Department for International Development signed the "on the development of Sino-British Memorandum of Understanding Knowledge Partnership" (ix) The CBRC Prudential Regulation Authority and the United Kingdom signed the "Memorandum of Understanding on bilateral supervisory cooperation." (x) in the British Nuclear Group and the National Nuclear Experiment Room signed the "key provisions of the agreement on the establishment of the Joint Nuclear Research and Innovation Center" (xi) People's Bank of China and Bank of England signed the "RMB / GBP bilateral currency swap agreement" (xii) CSC and the British Empire Institute signed "Innovative Training Project Cooperation Agreement" (xiii) Cultural Fund and the University of Cambridge in Britain launched the "World War II China and the world," the research II, commercial agreements (a) CGNPC and EDF signed the "British Nuclear Project Investment Agreement " (b) CIC, China Shipbuilding Group and Carnival UK, Fenkandini signed "luxury cruise ship construction and operation of the project cooperation agreement" (c) China Huadian Group and British Petroleum signed a "long-term gas trading Agreement " (d) China National Petroleum Corporation and British Petroleum signed a "strategic cooperation framework agreement" (e) HNA Group and Rolls-Royce signed the "About 42 A330 aircraft engine product support and maintenance services procurement" (vi) CITIC Group and ABP (London) Investment Company, said HSBC Holdings Limited signed the "Royal Albert Dock development project general contracting agreement" (vii) China Construction Bank signed with the London Metal Exchange "London Stock Exchange takeover circle members Mai Teddy Lancaster Agreement " (viii) The Hong Kong Stock Exchange and the London Metal Exchange signed the "establishment of the London and Hong Kong Futures Market Interconnection Mechanism Agreement" (ix) China Three Gorges Group and the Portuguese national power company signed a "joint investment and development on British MORAY cooperation agreement for offshore wind projects " (ten) Industrial and Commercial Bank of China and British Petroleum shipping company signed the "tanker operating lease projects and spare Loan Cooperation Agreement" (xi) the State Development Bank and the UKTI signed "on the UK infrastructure energy cooperation memorandum items " (xii) the Agricultural Bank of China and the London Stock Exchange Group signed the "green finance strategic cooperation memorandum" (xiii) Poly Group and the British Ambassador Theatre Group signed on repertory theater management to introduce and cooperation agreement ( xiv) China Building Materials Group and WELINK energy company signed a photovoltaic plant on the UK and the new housing project cooperation agreement (15) Sany, CITIC Group and HSBC Holdings road sign "on the British equipment rental company Investment Cooperation Agreement" (X f) R1 Beijing Construction Engineering Group and investment company, RELENTLESS investment company, RGJR Ltd. signed the "St. Michaels Investment Co., Ltd. joint venture agreement" (17) of China Construction Bank, China Regenerative Medicine International Ltd. and Oxford University signed on CCB International agreements regenerative medicine · Chinese R & D center of the University of Oxford (18) to Beijing intermediation Branch Technology Industry Co., Ltd. and the University of Glasgow, TransteknIQ technology companies signing of the Sino-British and Sino-British Science Park Innovation Centre, University of Glasgow protocol (xix) Shanghai Fosun High Technology (Group) Co., Ltd. and Thomas Cook Group signed an agreement on further strengthening bilateral cooperation (xx) BYD Group and Alexander Denny's sign "electric bus production agreement" (21) China Pacific Insurance Group and labor Lloyd signed a cooperation memorandum of understanding (xxii) Africa Development Fund Co., Ltd. and the British Department for International Development signed a "memorandum of cooperation on export promotion and investment in Africa" ​​(xxiii) million ZAP Company and Plurimi Group signed on China - British cross-border clearing and settlement system of protocols (xxiv) Bright Dairy Group, the Hong Kong International Limited and dream garden Carter signed on to invest in Shanghai to build "Dream Garden" project agreement (xxv) Development Research Center of the State Council and Shell International Limited signed on "Global Energy Transition and China Energy Revolution" joint research agreement (26) Bank and UK Trade & Investment Agency signed the "Memorandum of Understanding on bilateral cooperation" (xxvii) Chinese Cultural Industry Investment (Beijing) Group Limited signed on York University Film School project agreement with the University of York (28) and the UK's Building Research Institute of Tsinghua University, Hengda Cooperation Center signed the "Sino-British research platform for sustainable urbanization Agreement" Third, other outcomes (a) During the year 2015 was held in the British defense strategic consultation sixth in the United Kingdom (b) 2016 was held in the Joint evacuation indoor deduction (c) explore the establishment of Sino-British cooperation in international peacekeeping mechanism (D), Ningbo SSE issued jointly with the Baltic Exchange "Marine Silk Road Container Index" (e) China is willing to explore the establishment of Britain "in the UK Innovation Partnerships" (vi) October 19, 2015 held the Fourth Sino-British Energy Dialogue in London (VII) 2015 UK Development Forum held in the first session on October 22 in London, the British reforms and Innovation Forum First (viii) October 19, 2015 held its sixth Sino-British Internet Roundtable in English (ix) The parties agree 2016 Britain held its third annual Intellectual Property Symposium (X) in the British media roundtable held the first session in the UK November 19, 2015 (xi) October 15, 2015至16 held "Chinese film in London Exhibition ", and on October 19 held in Edinburgh," Chinese Film Day " (xii) held CCTV documentary "Confucius" (International Version) launch ceremony (xiii) CCTV News Europe sub-station construction projects (xiv ) CCTV cooperation with the British media company produced silver Gate animated film "Submarine small column" Season (15) People's Bank of China, Standard Chartered Bank to obtain the approval of the non-financial corporate debt financing instrument underwriting license (xvi) the State Development Bank in the UK issued $ 1 billion, 500 million euros bond (17) of the National Development Bank approved to open representative office in the UK and in October 22, 2015 listing (18) to the Press and Publication Administration of Radio and the British Film Institute signed the "Sino-British movie MOU "