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EDPR Sunseap seeks to more than double solar capacity in Asia-Pacific by 2026

Reuters SG
·1-min read

LISBON, Oct 19 (Reuters) - Singapore-based renewables firm EDPR Sunseap has more than doubled its installed solar capacity in the Asia-Pacific region since last year and is looking at new investment opportunities to more than double it again to 2.4 gigawatts (GW) by 2026.

Portugal's EDP Group, which acquired Sunseap in February 2022, said in a statement on Thursday the unit's capacity was now above 1 GW, which EDP Chief Executive Officer Miguel Stilwell called a "significant milestone" for growth.

"We continue to see attractive new investment opportunities and we have a goal of reaching 2.4 GW of installed renewable capacity in this region by 2026," he said.

EDPR Sunseap is the Asia Pacific hub for EDP subsidiary EDPR, the world's fourth-largest renewable energy producer.

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EDPR Sunseap is present in nine Asia-Pacific markets, with an installed capacity of 510 megawatts (MW) in Vietnam, 335 MW in Singapore, 100 MW in China and 75 MW in other markets including Japan, Taiwan and Malaysia.

Out of the total capacity, 47% is comprised of large-scale solar parks and the rest decentralised solar energy projects installed in corporate or residential buildings. (Reporting by Sergio Goncalves Editing by Andrei Khalip and Mark Potter)