EDP Renováveis has reached an agreement with local developer to acquired two solar PV projects that started operating in 2020, under a 20-year power purchase agreement (PPA) at a price of $93.5/MWh.
EDP Renováveis doubles its operational capacity in Vietnam. The EDP group company has acquired two solar PV projects for $284 million (€269 million) from local developer Xuan Thien Group. The acquisition also includes “an additional earn out conditioned to performance achievements.”
“This transaction is expected to establish a long-term relationship between Xuan Thien Group and EDP to jointly explore additional opportunities in the region contributing to accelerate EDP growth prospects in APAC,” the Portuguese group announced in a statement sent this Monday to CMVM.
The new projects in EDPR’s portfolio started operating in 2020, under a 20-year power purchase agreement (PPA) at a price of $93.5/MWh.
EDP Renováveis has been in the Asia-Pacific region since 2021 and gained local presence in February 2022, when it acquired Sunseap for €600 million.