EDPR Sunseap is headquartered in Singapore and present across nine markets, with 700 megawatts (MW) of solar capacity installed and under construction and a pipeline of more than 6GW, while Korea EWP is a state-owned generation company in the Republic of Korea, which was spun off from Korea Electric Power Corporation (KEPCO) in 2001. As of June 30, Korea EWP’s 9.5GW installed generating capacity included 156MW of renewable energy capacity.
EDPR Sunseap is part of EDP Renewables, the world’s fourth largest wind producer worldwide with 13.8GW installed and present in 28 markets. Its parent company EDP, holds a 75% stake in EDPR Sunseap, and is committed to lead the energy transition by becoming coal free by 2025 and carbon neutral by 2030.
EDPR Sunseap executive chairman Pedro Vasconcelos, who is also EDPR’s APAC COO, says: “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 in accelerating the energy transition together with East-West Power.
Meanwhile, Korea EWP 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.
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Korea EWP president Kim Young-moon says: "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."
“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 pipeline that will allow the cross-border delivery of solar energy,” adds Vasconcelos.
