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Singapore, 29 June 2022 – EDP Renewables (Euronext: EDPR), the world’s fourth-largest renewable vitality producer, has reached an settlement with Xuan Thien Group, one of many foremost builders in Vietnam, to amass two photo voltaic PV tasks totaling 200 MWac (255 MWdc).
The tasks are positioned on the Thuan Bac District of Vietnam, having began operations in 2020 beneath a 20-year PPA at US$93.5/MWh.
This transaction is predicted to determine a long-term relationship between Xuan Thien Group and EDPR to collectively discover extra alternatives within the area contributing to speed up EDPR development prospects in APAC.
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With this transaction, EDPR doubles its operational capability in Vietnam, strengthening its presence within the APAC area, a market the place it entered in 2021 and has been since strengthened with the mixing of Sunseap in February 2022.
The transaction is topic to regulatory and different customary precedent situations. Hyperion Funding Advisory Restricted was Xuan Thien’s advisor within the transaction.
EDPR accomplished its S$1.1 billion acquisition of Sunseap Group earlier this 12 months, establishing a clear vitality hub for the Asia Pacific area that’s headquartered in Singapore. EDPR expects to speculate as much as S$10 billion within the area by 2030.
An EDPR Sunseap APAC spokesperson added: “EDPR needs to be a key participant within the area’s transformative journey in direction of clear vitality, which can permit economies to develop strongly whereas holding at bay the issues of air pollution and carbon emissions.”
VietNam Financial Information
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