EDPR and LS Electric in South Korea projects

 In Companies, Energy, News, Renewables

EDP Renováveis and LS Electric have reached an agreement to pursue joint renewable energy projects in South Korea.

In a communiqué, EDP, which holds a 74.98% share in EDPR (EDP Renováveis), states that the memorandum of understanding which has been signed marks the start of negotiations for the development of renewable energy projects in South Korea, also foreseeing cooperation in product and solutions offer, both in South Korea and internationally.
“This alliance will permit EDPR to have the support of LS Electric involving the communities in the local area of the projects”, states the same communiqué.
EDP also emphasises that the partnership that has been signed is a sign of EDPR’s international ambition and its efforts to continue its international expansion and global presence, accelerating opportunities in Asia.
Within this context, South Korea has already proved to be a key player in energy transition with its government committed to achieving carbon neutrality by 2050”.
In June, EDPR and Ocean Winds (OW) announced that it had signed a non-binding investment agreement worth US$100 million through which it intends to develop large-scale solar panel park and offshore wind farms in the country.
EDPR says it plans a 200MW solar park in Goheung in the South Jeolla province. EDPR is the fourth largest renewable energy producer in the world.