The European Commission has concluded that the extension of hydropower concessions granted by Portugal to state-owned Energias de Portugal (EDP) does not involve state aid, it said on Monday.
Portugal extended several concessions for the use of public water for electricity production in 2007 beyond the termination date originally granted. The extensions were granted to EDP against the payment of €704 million ($772 million) but without notifying Brussels under rules for state aid approval.
The concessions helped maintain 27 hydropower plants under the control of EDP, together...
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