EDPR Sunseap, the Asia Pacific hub of EDP Renewables, the world’s fourth largest renewable energy company, signed a memorandum of understanding (MoU) with Korea East-West Power to jointly develop and provide technical support for clean energy projects in South Korea as well as in the rest of Asia Pacific.
The MoU was signed at the Four Seasons Hotel in Seoul yesterday. This strategic collaboration will further drive EDPR Sunseap’s goal to manage more than 2 GW of installed capacity across the APAC region by 2025, up from its current base of 0.7 GW.
EDPR Sunseap executive chairman Pedro Vasconcelos, who is also EDPR’s APAC chief operating officer, said: “The problems posed by global warming have become increasingly visible and the world needs to step up the pace of transition to clean energy sources. South Korea is an important market which EDPR Sunseap can add significant value [to] in accelerating the energy transition together with East-West Power.
“EDPR Sunseap can bring to this partnership our experience and presence in Asia where we have been involved in many innovative projects, including one of the world’s largest near-shore floating solar farms on sea water and [a] pipeline that will allow the cross-border delivery of solar energy.”
EDP Renewables is a 100% renewables producer. Its parent company, EDP, is committed to lead the energy transition by becoming coal free by 2025 and carbon neutral, utilizing 100% renewable energy generation by 2030.
Korea East-West Power president Kim Young-moon said, “Through this agreement, the two companies have agreed to join forces to move the world toward carbon neutrality through a win-win cooperation for a sustainable future.”
East-West Power plans to achieve carbon neutrality by reducing carbon emissions by 44.4% by 2030 and increasing the proportion of renewable energy generation to 71% by 2050, in line with government policy.
