Reuters exclusively reported that Energias de Portugal is in advanced talks to buy a majority stake in Sunseap Group, in a deal that will value the Southeast Asian renewables company at around S$1 billion ($742 million) and involve substantial investments in the business. EDP Renovaveis (EDPR), 75% owned by EDP, Portugal’s biggest utility, is in late-stage talks to buy the stake held in Sunseap by Thai energy firm Banpu PCL, Singapore state investor Temasek Holdings, a Temasek-backed fund and others. EDPR’s move to snap up the Singapore-based solar energy group reflects the world’s fourth-largest renewable energy producer’s ambition to accelerate its growth in Asia. The potential EDPR deal would make it the biggest in Southeast Asia’s renewables sector for five years, according to data from Refinitiv.
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