September 9, 2019 / 10:21 AM / a year ago

Austria's Verbund confirms bid for EDP's hydro assets

FILE PHOTO: The logo of Austrian hydropower producer Verbund is seen on their headquarters in Vienna, Austria March 8, 2017. REUTERS/Leonhard Foeger

VIENNA (Reuters) - Verbund (VERB.VI) is bidding for the hydro assets of Portuguese utility EDP (EDP.LS) and made it on the shortlist of final bidders, the Austrian utility said on Monday.

The sale is part of a wider portfolio clean-up as EDP wants to plough more cash into its renewable energy business with the assets being valued at more than 2 billion euros ($2.21 billion).[nL5N25W36F]

Sources told Reuters that the Portuguese group was expected to also put Spain’s Iberdrola (IBE.MC) and Norway’s Statkraft on the shortlist.

“We are among the bidders and we are on the shortlist,” a Verbund spokeswoman said.

Reporting by Kirsti Knolle; Editing by Tassilo Hummel

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