EDP, the renewables unit of Portugal's largest utility, is in talks to sell power directly to Japanese and Korean companies as a way to boost growth in Asia, a change from the traditional contracts with state entities.
The unit, EDP Renovave is SA (EDPR), plans to invest 21 billion euros ($23.12 billion) in renewable energy over the next four years, with 80% in North America and Europe. However, EDPR is making deals with corporates in a bid to break into the Asia-Pacific region.
"We're actually in negotiation…and actually starting to open up to the Japanese and South Korean corporates, which can itself be a huge enabler for growth," said Pedro Vasconcelos, the chief operating officer for Asia-Pacific.
