EDP Renewables reached 1GWp of installed solar capacity in the Asia-Pacific region, more than twice the existing level when it acquired Sunseap in February last year, 480 MWp.
“This is an important milestone for the company, as it demonstrates the firm commitment to accelerate the energy transition of Asia-Pacific, the latest region where the group is located,” the energy company said in a statement.
Of the 1 GWp installed, 47% relate to large-scale solar parks and 53% to decentralized solar energy projects installed in corporate buildings or residential buildings.
“Solar energy is one of the fastest growing segments in the region, with installed capacity expected to triple by 2026, in a sustained growth driven by increased decarbonization targets in the area,” the company details.
Miguel Stilwell, CEO of EDP, says he continues to see “attractive new investment opportunities” and that the goal is “to reach 2.4 GW of renewable installed capacity in this region by 2026”.
EDP Renewables is present in nine Asia-Pacific markets, with Singapore being the newest in the portfolio. In total, according to the statement, the company has an “installed capacity of 510MW (50%) in Vietnam, 335MW (33%) in Singapore, 100MW (10%) in China and 75MW (7%) in other emerging markets, including Japan, Taiwan and Malaysia”.
