Solar module. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.
EDP Renovaveis SA (ELI:EDPR) has purchased a 28-MW solar plant in Vietnam from China’s Trina Solar Co Ltd (SHA: 688599).
Portuguese energy giant EDP (ELI:EDP), which is the majority owner of EDPR, said on Wednesday that the completion of this acquisition has already occurred. Valued at USD 36 million (EUR 30.4m), the deal represents EDPR's entry into the Vietnamese market.
Located in Khanh Hoa province, the Trung Son photovoltaic (PV) farm has been operational since December 2020. In direct current (DC), its capacity amounts to 35 MW. The plant's output is sold to state-owned power company Vietnam Electricity (EVN) through a power purchase agreement (PPA) under a 20-year feed-in tariff (FiT).
This transaction helps the Iberian renewable energy major to establish its presence in the Asia Pacific where it plans to invest part of the 5% allocated to "Other" geographies as established in its 20 GW growth strategy until 2025, EDP noted.