The power producer is set to pay $695m for 87.4% of solar project operator Sunseap, which counts Banpu, Shell, IsoTeam and Chow Tai Fook as investors.

Energy utility EDP agreed yesterday to acquire an 87.4% stake in Sunseap, a Singapore-headquartered solar power provider backed by corporates Shell, IsoTeam, Chow Tai Fook Enterprises and Banpu, for €600m ($695m).

Sunseap operates a network of solar power plants across Singapore, China, Japan, Malaysia, Indonesia, Thailand, Cambodia, Vietnam and Taiwan. It has a 540 MW portfolio of projects which have been completed or which are being built, and a pipeline totalling nearly 5 GW.

The transaction is being conducted by…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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