EDP Renewables (EDPR) has revealed plans to invest S$10 billion by 2030 to create a clean energy hub in Singapore to serve the Asia Pacific (APAC) region.

The Spanish renewable energy company made the announcement after completing its S$1.1 billion acquisition of a 91% stake in Sunseap. The deal was announced in November 2021. Based in Singapore, Sunseap is a solar company that builds rooftop, ground-mounted utility-scale and floating solar photovoltaic (PV) projects. The company also operates in Vietnam, Malaysia, Thailand, Indonesia, China, Taiwan, Cambodia and Japan.

"This is an important milestone for Sunseap and everyone who helped us build a billion-dollar company with a mission to decarbonize and burden everyone," said Sunseap co-founder Frank Puan. Affordable clean energy.” With EDPR’s financial strength and expertise in renewable energy, Sunseap will be able to accelerate growth plans and revolutionize the energy landscape in the region, as well as develop the next generation of talent in the industry. "

According to EDP Renewables, its investments in Singapore are generally in line with its Asia-Pacific strategy. The company said the Asia-Pacific region is the fastest-growing renewable energy market in the world, accounting for 55% of global capacity additions in the current decade. Through the deal with Sunseap, the Spanish company will have its headquarters in the Asia-Pacific region, while gaining access to a portfolio of nearly 10GW of renewable energy projects in various stages of development. EDP Renewables has also acquired a team of more than 600 employees through Sunseap, working in nine countries. Keywords: engineering construction, engineering news

Miguel Stilwelld'Andrade, CEO of EDP and EDPR, said: "Sunseap, together with EDPR's complementary expertise, is now better positioned to drive the energy transition and climate change mitigation across the Asia-Pacific region, with sustainability as growth and green jobs key engine. And contribute to Singapore’s clean energy ecosystem.”Editor/XingWentao