EDP strengthens its position in APAC with two solar projects totalling 200 MWac in Vietnam
EDP strengthens its position in APAC with two solar projects totalling 200 MWac in Vietnam
Lisbon, June 27th, 2022: EDP - Energias de Portugal, S.A. (“EDP”), through its 74.98% owned subsidiary EDP Renováveis, S.A. (“EDPR”), has reached an agreement with Xuan Thien Group, one of the main developers in Vietnam, to acquire two solar PV projects totalling 200 MWac (255 MWdc).
The projects are located at the Thuan Bac district in Vietnam, having started operations in 2020 under a 20-year PPA at US$93.5/MWh. The deal was reached for a total consideration of US$284m together with 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.
With this transaction, EDP doubles its operational capacity in Vietnam, strengthening its presence in the APAC region, a market where it entered in 2021 and has been since reinforced with the integration of Sunseap in February 2022.
The transaction is subject to regulatory and other customary precedent conditions.
Hyperion Investment Advisory Limited was Xuan Thien's advisor in the transaction.
This information is disclosed pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council.
EDP – Energias de Portugal. S.A.