EDF Renewables invests in Vietnamese rooftop PV developer SkyX Solar

EDF Renewables has invested an undisclosed sum in a unit of Vietnamese investment manager VinaCapital Group that owns a 100-MWp portfolio of rooftop solar assets.

The French renewable energy company has injected a “significant’ amount in SkyX Energy, the holding company of rooftop solar photovoltaic (PV) developer SkyX Solar, the latter’s parent said on Wednesday.

The target entity currently has around 30 MWp of solar plants in operation and 70 MWp of projects under development. In the next two-three years, it intends to spend over USD 100 million (EUR 86.6m) to further expand its portfolio by developing 200 MWp of rooftop and distributed solar schemes at home.

“SkyX Solar has around 100 MWp of rooftop solar projects under operation and/or development and we intend to partner with more industrial companies in Vietnam to build many hundred MWs of solar capacity with them,” said Samresh Kumar, CEO and founder of SkyX Solar. He explained that EDF Renewables will bring its expertise and resources and thus enable the Vietnamese firm to offer its solutions to a wider client base in its home country.

SkyX Solar was set up in 2019.

(USD 1.0 = EUR 0.866)

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