EDPR Sunseap finishes takeover of $284 mln Vietnam solar projects
Singapore-headquartered clean energy provider EDPR Sunseap has concluded its $284 million acquisition of two solar power projects in Ninh Thuan province, doubling its operational capacity in Vietnam.
The transaction is the first step in establishing a long-term relationship between EDPR Sunseap, an arm of Portuguese renewables giant EDPR, and Ninh Binh-based Xuan Thien Group to jointly explore opportunities in Vietnam, EDPR Sunseap said in a release Monday.
"The deal will help accelerate the energy transition in Vietnam and the surrounding countries. EDPR Sunseap is committed to bringing in global know-how and leveraging Singapore's strengths as a regional business hub to achieve our mission of creating a decarbonized and electrified world through clean, affordable and reliable energy,” EDPR Sunseap executive chairman Pedro Vasconcelos said.
The two solar projects, Xuan Thien Xuan Bac 1 and 2 in the south-central coastal province of Ninh Thuan, total 255 megawatts-peak under a 20-year power purchasing agreement priced at $93.5 per megawatt-hour with the country’s state utility Vietnam Electricity, or EVN.
Xuan Thien Xuan Bac 1 and 2 solar farms in Ninh Thuan province, south-central Vietnam. Photo courtesy of Xuan Thien Group.
The transaction, EDPR Sunseap’s largest solar power investment worldwide to date, helps strengthen its presence in the Asia-Pacific region.
EDPR Sunseap was previously known as Sunseap Group before EDP Renewables (EDPR) bought a 91% stake in January this year for $1.1 billion. The integration of Sunseap into EDPR is driving EDPR Sunseap to initiate more projects across the region.
EDPR Sunseap said in the release that it plans to expand the capacity for its renewable projects in Asia-Pacific to more than 2 gigawatts by 2025, up from its current 0.7 GW.
EDPR, the world’s fourth-largest renewable energy producer, is owned by Energias de Portugal, the biggest utility firm in Portugal.
- Related News
- Read More
PV Gas H1 profit likely to exceed 70% of full-year target
PV Gas, a subsidiary of state-owned Petrovietnam, expects to exceed 70% of its full-year profit target in the first six months of 2026, supported by stable domestic gas supply and expanding market share amid global energy disruptions caused by Middle East geopolitical tensions.
Companies - Sat, May 23, 2026 | 1:50 pm GMT+7
Infrastructure builder Deo Ca must be a 'durable horse' for the long road: chairman
Ho Minh Hoang, chairman of Deo Ca Traffic Infrastructure Investment JSC (HHV), a leading transport infrastructure developer in Vietnam, said the company should not seek overnight expansion but instead pursue disciplined and sustainable long-term growth.
Companies - Sat, May 23, 2026 | 8:17 am GMT+7
Agribank advances ESG implementation, strengthening foundation for sustainable development
As sustainable development becomes an increasingly important requirement for the financial and banking sector, Agribank is steadily reaffirming its development orientation aligned with environmental, social, and governance (ESG) principles.
Companies - Fri, May 22, 2026 | 4:24 pm GMT+7
Two Hermes bags of convicted tycoon Truong My Lan fetch $531,000 at auction
Two luxury Hermes handbags belonging to tycoon Truong My Lan, chairwoman of Van Thinh Phat, were successfully auctioned in Ho Chi Minh City, generating more than VND14 billion ($530,970) for asset recovery efforts tied to one of Vietnam’s largest financial fraud cases.
Companies - Fri, May 22, 2026 | 4:09 pm GMT+7
Vietnam’s cosmetics retail market keeps expanding but at slow pace
Vietnam’s cosmetics retail market continued expanding in 2026, though the pace of store openings has begun to moderate after years of rapid growth, according to market research firm Q&Me.
Economy - Fri, May 22, 2026 | 3:53 pm GMT+7
Major Vietnam conglomerates deepen presence in agriculture sector
The growing presence of both long-established agricultural companies and newly participating private conglomerates is reshaping Vietnam’s agriculture sector into a more diversified industry landscape.
Companies - Fri, May 22, 2026 | 3:27 pm GMT+7
Tai Tam expands energy portfolio with $70 mln wind power project in central Vietnam
A nearly VND1.85 trillion ($70.26 million) wind power project in Gia Lai province marks a new step in Tai Tam Group JSC’s strategy to expand its renewable energy ecosystem.
Energy - Fri, May 22, 2026 | 11:38 am GMT+7
Vietnam's wealth management market offers hundreds of billions of US dollars in growth potential
As Vietnam’s middle class expands rapidly and demand for wealth accumulation rises, the country’s wealth management market is entering a strong growth phase, with potential to reach hundreds of billions of U.S. dollars in the coming years.
Finance - Fri, May 22, 2026 | 10:47 am GMT+7
Winner Medical starts building $61 mln medical supplies plant in northern Vietnam
Nature Health Development International Co. Ltd, a Hong Kong-based subsidiary of China's Winner Medical, has broken ground on a medical supplies manufacturing plant worth over VND1.5 trillion ($60.5 million) in Vietnam’s northern province of Quang Ninh.
Investing - Fri, May 22, 2026 | 7:48 am GMT+7
Dragon Capital Vietnam veteran Tran Thanh Tan steps down as vice chairman
Dragon Capital Vietfund Management (DCVFM), a subsidiary of Vietnam-focused asset manager Dragon Capital Group, has approved the resignation of Tran Thanh Tan from his position as vice chairman, marking a major leadership transition at one of Vietnam’s oldest foreign fund management firms.
Finance - Thu, May 21, 2026 | 5:09 pm GMT+7
M&A set to drive Vietnam’s hospitality market in 2026
Analysts expect mergers and acquisitions (M&A) to accelerate sharply in Vietnam’s hotel and resort sector in 2026, particularly in the four-star and five-star segments in Hanoi and Ho Chi Minh City, as tourism recovery strengthens and investors hunt for premium assets.
Real Estate - Thu, May 21, 2026 | 4:01 pm GMT+7
Vietnam’s convenience store boom shifts beyond major cities as chains race for scale
Vietnam’s convenience store and mini-supermarket sector is expected to post another year of rapid expansion in 2026, driven by aggressive store openings from leading retail chains and a strategic push into smaller cities and rural areas, according to market research firm Q&Me.
Companies - Thu, May 21, 2026 | 3:26 pm GMT+7
Phat Dat seeks shareholder approval for Thu Thiem Eco Smart City investment
Phat Dat Real Estate Development Corporation (HoSE: PDR) is seeking to become a strategic investor in the Thu Thiem Eco Smart City project developed by South Korean-backed Lotte Properties HCMC in Ho Chi Minh City.
Real Estate - Thu, May 21, 2026 | 1:38 pm GMT+7
The end of the ‘cash cow’ era: Central Vietnam condotels give way to luxury apartments
After a boom period fueled by attractive profit commitments, the condotel segment in Vietnam’s central city of Danang has entered a prolonged downturn, while the high-end apartment segment is rapidly gaining momentum as the new focal point of the coastal urban real estate market.
Real Estate - Thu, May 21, 2026 | 11:35 am GMT+7
Marubeni becomes shareholder of Amata subsidiary in northern Vietnam
Marubeni Corporation has completed procedures to acquire a 20% stake in Amata Ha Long, a subsidiary of Thailand’s Amata Corporation, the companies said during a meeting with Quang Ninh authorities on Tuesday.
Companies - Thu, May 21, 2026 | 10:07 am GMT+7
Systemic liquidity pressure: Interest rates in Vietnam unlikely to fall further
Rising liquidity pressures are making it increasingly difficult for Vietnam’s deposit interest rates to decline further in 2026, with many commercial banks maintaining rates for 6-12 month deposits at around 6.5-7.8% per year.
Banking - Thu, May 21, 2026 | 8:00 am GMT+7
