EDPR Sunseap acquires 2 solar projects in Vietnam

The two projects have a total capacity of 255MWp.

EDPR Sunseap has completed its $284m purchase of two solar photovoltaic projects in Vietnam from local renewable energy developer Xuan Thien Group, considered to be the company’s largest utility-scale solar investment.

In a statement, EDPR said the two projects have a total capacity of 255-megawatt-peak and are under a 20-year power purchase deal at $93.5 per megawatt hour.

This will double the company’s operational capacity in Vietnam, EDPR said.

READ MORE: EDP Renewables, Sunseap close $1.1b acquisition deal

“The deal will help to accelerate the energy transition in Vietnam and the surrounding countries and EDPR Sunseap is committed to bringing in global know-how and leveraging Singapore’s strengths as a regional business hub to achieve our mission of creating a decarbonised and electrified world through clean, affordable and reliable energy,” said EDPR Sunseap Executive Chairman Pedro Vasconcelos.

EDPR Sunseap aims to manage over 2GW of installed capacity by 2025.