Singapore-based renewables company EDPR Sunseap is considering investment in Vietnam and other north Asian economies. EDPR Sunseap is the Asia Pacific unit of EDP Renewables.
The company’s planning comes at a time when it seeks to expand its utility-scale growth capacity.
Pedro Vasconcelos, executive chairman of EDPR Sunseap, was quoted in a local report, "Today our utilities strategy is heavily focused on Vietnam, China, South Korea, Japan and potentially Australia if we can find the opportunities to get in.”
Besides, the company is also considering Australia as it has high quality solar and wind resource and could export green energy.
EDP Renewables is regarded as the world's fourth-largest renewable energy producer. It has set an objective to triple its renewable energy capacity to over 2 gigawatt (GW) by 2025, the company stated.
Last year, EDPR had acquired a majority stake in Sunseap Group. The company earlier stated that it is likely to invest up to S$10 billion by 2030 “to establish a clean energy hub in Singapore for the Asia Pacific region.”
Pedro Vasconcelos was further quoted, "We see more and more Vietnam and Thailand really growing in terms of industrialization. So the ability to work in these countries and do large-scale decentralised generation is indeed an important factor for our growth."
For now, the company has targeted Southeast Asia as a growth market.
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