- EDP has acquired a 28MW solar plant in Vietnam.
- EDP plans to expand in Southeast Asia as it looks to deploy 20GW by 2025.
EDP Renovaveis has acquired a 28MW solar farm in Vietnam from Trina Solar. The farm is valued at $36 million and represents the Portuguese company’s first project in the Southeast Asian country.
The Trung Son photovoltaic (PV) farm, situated in the Khanh Hoa province, has been in operation since December 2020. The energy produced from the power plant is sold to the state-owned Vietnam Electricity (EVN) through a power purchase agreement (PPA) under a 20-year feed-in tariff (FiT).
This transaction will enable EDP to establish its presence in the region. EDP plans to invest 5 per cent of its “other geographies” expansion fund in the region to meet its 2025 20GW growth projections.