EDP Completes Acquisition of Majority Stake in Sunseap Group
February 24 2022 - 1:54AM
Dow Jones News
By Giulia Petroni
EDP-Energias de Portugal SA on Thursday said that it has
completed the acquisition of a 91% stake in Singapore-based solar
player Sunseap Group Pte. Ltd. through its renewable subsidiary EDP
Renovaveis SA.
The Portuguese energy company said the total consideration for
the majority stake is 600 million euros ($679.5 million), while the
enterprise value of the transaction is EUR900 million as of
December.
"This acquisition allows EDP to establish a portfolio for the
Asia-Pacific region of close to 10 gigawatts of solar projects, of
which 563 megawatts operating and under construction," EDP
said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
February 24, 2022 01:39 ET (06:39 GMT)
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