EDP - Energias de Portugal, S.A. (ENXTLS:EDP) is in advanced talks to acquire a majority stake in Sunseap Group Pte. Ltd. in a deal that will value the Southeast Asian renewables firm at around SGD 1 billion ($742 million), three sources with knowledge of the matter said on October 26, 2021. EDP Renováveis, S.A. (ENXTLS:EDPR) is in late-stage negotiations to buy out the stake held in Sunseap by Banpu Public Company Limited (SET:BANPU) (Banpu PCL), Temasek Holdings (Private) Limited and other investors, the sources said.

The sources declined to be identified due to confidentiality constraints. EDP, Banpu, Sunseap and Temasek all declined to comment.