EDPR completes acquisition deal with Sunseap

EDP Renewables has announced that all pending regulatory conditions have been met for the agreement reached in November to acquire a 91% stake in Sunseap, distributed solar power operator in Southeast Asia. The deal was closed at SGD1.1 billion (US$811.8 million).

EDPR and Sunseap will embark on renewable energy projects across the Asia Pacific region, specifically solar and wind projects. There will also be opportunities for co-operation in energy storage and green hydrogen, among others. EDPR now has access to markets with growth in renewables of over 120 GW/year, representing approximately 75% of the expected global growth (2020-2030).