EDP Renovaveis, a renewable energy company signs an agreement to acquire 2 solar power plants in Vietnam of 200 MWac capacity with Xuan Thien Group, a Vietnam energy company.
The total cost of the transaction is USD 284 million. The solar plants are located in the Thuan Bac district of Vietnam and these plants have been working since 2020.
The power purchase agreement was signed for 20 years. With this partnership, both companies also plan to explore more such opportunities in the Asia region.
Established in 2000, Xuan Thien Group has been oriented to invest in core business areas such as green, clean industry, sustainable development such as renewable energy (Hydroelectricity, Solar power), and difficulties and challenges in terms of technology, techniques and even natural conditions have been overcome.
However, with the determination of the Leadership Team, the efforts of the technicians and workers of Xuan Thien Group completed the project and successfully put it into power generation in 2011.