EDPR shuts 200-MW solar purchase in Vietnam
- Renewable energy titan EDP Renovaveis SA (ELI: EDPR) has finalised the purchase of 200 MW of solar plants in Vietnam from residential designer Xuan Thien Group.
EDPR has actually paid an overall of USD 284 million (EUR 287.3 m) to take complete control of 2 operational solar (PV) parks. The customer said on Wednesday that dependent on the accomplishment of certain efficiency landmarks, it may make an earn-out payment.
The renewable energy firm expects this deal to be the very first step in a long-term collaboration with Xuan Thien, focused on the joint exploration of extra chances in the region.
EDPR kept in mind that both of the acquired solar farms are selling their output with a 20-year power purchase agreement (PPA) at USD 93.5 per MWh.
Along with doubling its operational capacity in Vietnam, EDPR also enhances its presence in the Asia-Pacific (APAC) area via this deal.
Present in the APAC market considering that 2021, the renewables firm strengthened its regional footprint with the integration of Sunseap earlier this year.
