home Stock Brookfield weighs bid for Iberian hydro assets owned by China Three Gorges

Brookfield weighs bid for Iberian hydro assets owned by China Three Gorges

An EDP-Energias de Portugal SA power station is seen in Carregado, Portugal.Vanda de Mello/Bloomberg

Brookfield Asset Management Inc. and Endesa SA are among companies weighing bids for a package of EDP-Energias de Portugal SA electricity assets that could fetch about 2 billion euros (US$2.3 billion), people familiar with the matter said.

The Portuguese utility is expecting initial bids later this month for about 2 gigawatts of hydroelectric power projects in Spain and Portugal, the people said, asking not to be identified because the information is private. EDP is also gauging interest from other potential suitors including French utility Engie SA, Iberdrola SA and an infrastructure arm of Macquarie Group Ltd., they said.

No final decisions have been made, and the parties may decide not to proceed with formal offers, the people said. Representatives for EDP, Brookfield, Engie, Endesa, Iberdrola and Macquarie declined to comment.