Electricity company Energias de Portugal SA (EDP) intends to invest up to 12 million euros (US$14.37 million) in East Africa in the next three years, Xinhua reports.
The Chinese state-run news agency – quoting Portuguese news agency Lusa – says the investment is part of the EDP effort to decentralise its exploitation of energy and promote universal access to sustainably generated electricity.
The report quotes EDP as saying it will invest in established or up-and-coming companies in East Africa, making EDP “a significant operator” in emerging markets.
Portuguese-based EDP will spend another 1.0 million euros on corporate social responsibility measures, which could help up to 200,000 people, most of them in developing countries, Xinhua says.
