- Press Releases
June 27 (Renewables Now) - Renewable energy giant EDP Renovaveis SA (ELI:EDPR) has inked a deal to acquire two solar plants in Vietnam totalling 200 MW from local developer Xuan Thien Group.
The transaction is valued at USD 284 million (EUR 269.8m), with an additional earn-out conditioned to performance achievements, the buyer said today.
The two photovoltaic (PV) parks are located in Vietnam's Thuan Bac district and have been in operation since 2020. Both are selling their output at USD 93.5 per MWh through a 20-year power purchase agreement (PPA).
EDPR noted it expects to have a long-term relationship with Xuan Thien Group to jointly explore further opportunities in the region. The renewables company believes this will contribute to accelerating its growth prospects in the Asia-Pacific (APAC) market.
The closure is still subject to regulatory and other customary precedent conditions.
(USD 1.0 = EUR 0.950)