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2. STRUCTURE OF GENERATION IN PORTUGAL AND RISK 2.1. Background Power Purchase Agreements (PPAs) were signed in 1993 and 1994 for one exisdng coal plant and one greenfield CCGT by private developers and then in 1996 tor five thermal plants and 26 hydro plants belonging to EDP, We understand that most of the EDP plant was already operational in 1996. The offtaker was REN, at that time the wholly state owned transmission company belonging to EDP group, which was also wholly public at the time, but was on a path to floatation. This information can be seen in Figure 2.1 below.
Figpm 2. Î; Timeline for significant share sales in EDP <č série-b='série-b' ii='ii' rev='rev' _226br='_226br' número='número' _='_'>___________________________________________________________________________________________________________________
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