Business newspaper China Knowledge has reported that China Power International Holding is planning to acquire a 20% stake in Energias de Portugal SA, a Portugal based company in the power generation and gas sectors.

In July this year, representatives of China Power International started talks on the acquisition with the Portuguese government. It had been thought that China Power International was in talks to acquire a 2.5% to 5% stake in Energias de Portugal, including wind assets in the US and investments in Brazil.

The Portuguese government is selling its 25% stake in Energias de Portugal as part of a EUR 78 billion financial rescue plan agreed in May with the European Union and the International Monetary Fund.

China Power International (a holding company operating through its subsidiary China Power International Development Ltd) owns and operates power generation plants and transmission assets. It is based at Wanchai in Hong Kong.