EDP Renewables seeks more renewable energy investments in central Vietnam

EDP Renewables (EDPR), the renewable energy development arm of Spanish giant EDP, is seeking further renewable energy opportunities in Vietnam’s south-central region, with a focus on the coastal province of Khanh Hoa.

Miguel Fonseca, CEO of EDP Renewable APAC, made the statement at a Tuesday meeting with Khanh Hoa authorities, urging them to suggest appropriate investment opportunities.

In reply, Nguyen Hai Ninh, a Central Party Committee member and Party chief of Khanh Hoa, said the province is willing to cooperate with EDPR in renewable energy. Khanh Hoa is focusing on offshore wind energy, gas-fired power, and solar power, he added.

Besides, Khanh Hoa Chairman Nguyen Tan Tuan recommended the Spanish firm should invest in rooftop solar power in tourism areas.

Regarding the Trung Son solar power project, an EDPR investment in the province, Ninh affirmed that provincial authorities are willing to solve issues under its jurisdiction and suggest solutions to higher authorities for issues beyond its jurisdiction.

The 35-MWp Trung Son solar power, with an investment of over VND1 trillion ($39.29 million), was connected to the grid in December 2020.

In June 2021, EDPR said it had reached an agreement with Trina Solar to acquire the project for a total consideration of $36 million. The move, also its entry in Vietnam, is within the context of EDPR’s business plan for 2021-2025 and represented a first step towards the establishment of EDPR’s presence in Asia.

However, in December 2022, the State Audit Office of Vietnam pointed out that Khanh Hoa authorities had made errors allocating lands for renewable energy projects, including the Trung Son solar power project. The 40-hectare project includes 8.6 hectares of forest that were not approved.

In December 2023, the Government Inspectorate stated: "The investor of the 30MW Trung Son solar power project was not qualified in terms of financial capability and the project documents were not in line with regulations specified in the Point d, Clause 3, Article 58 of the Investment Law 2014.

The investor was also not capable financially to be leased land in line with the Point a, Clause 3, Article 58 of the Land Law 2013, but the provincial People's Commitee still gave in-principle approval to the project. Responsibilities belong to the committee and related units."