EDPR WILL BEGIN BUILDING ITS LARGEST JAPANESE SOLAR PLANT THIS YEAR

The renewables unit of Portugal's largest utility, EDP (EDP.LS), will start building its largest solar power plant in land-scarce Japan this year to sell power directly to a company, a senior executive said. With the majority of its projects in Europe and North America, EDP Renovaveis SA (EDPR) (EDPR.LS), is betting on power deals with companies to expand in the Asia-Pacific as it shifts focus from distributed solar installations to large projects.

"It is a 44 MW (megawatt) project, which, in Japan, essentially is a mega project," Pedro Vasconcelos, Asia-Pacific chief executive of EDPR, said, adding construction would begin in the next one or two months, with operations to start in 2025. He declined to identify the company, however. Major investments in renewable power projects in Singapore and Vietnam helped boost the firm's installed capacity in Asia Pacific to 1 gigawatt this month, doubling from February 2022, when EDPR took over solar firm Sunseap.

Learn More