EDP Labelec materializes an equity stake in the Sino-Portuguese Centre for New Energy Technologies (Shanghai) Co., Ltd. – SCNET.
This is a second step in the strategic joint venture dedicated to research and development – R&D in the energy sector, between EDP and CTG.
After the creation of the NEW R&D – Centre for New Energy Technologies based in Lisbon on October 2014, Labelec materializes an ownership stake of 40% of the Shanghai Centre, where CTG through Shanghai Investigation Design and Research Institute – SIDDR – has an ownership stake of 60%.
This joint initiative between EDP and CTG is focused on R&D priority areas for both companies:
- Energy Storage and Energy Management
- Smart Grids
- Flexibility of Hydro and Thermal Assets
- Offshore Wind
In addition to internal funding, the Lisbon Centre mainly focuses on European and Portuguese R&D funds and the Shanghai Centre will be leveraged through financing mechanisms for R&D in China.