Who owns sunseap group?

SINGAPORE/LISBON, Nov 3 (Reuters) - EDP Renewables (EDPR) (EDPR.LS) has bought a majority stake in Southeast Asian renewables firm Sunseap Group, creating a solid platform for the Portuguese company to accelerate growth in Asia, the CEO of EDP group and EDPR told Reuters. The deal values Sunseap at S$1.1 billion ($816 million)

Does EDP Renewables own sunseap?

EDP Renewables (Euronext: EDPR), the world's fourth largest renewable energy producer, has announced that all pending regulatory conditions have been met for the agreement reached in November to acquire a 91% stake in Sunseap, the largest distributed solar power operator and the fourth largest solar power operator in Southeast Asia.

Why did EDPR acquire sunseap?

In February 2022, EDP Renewables (EDPR) acquired a 91% stake in Sunseap. Since then, EDP Renewables APAC was formed, establishing a leading clean energy hub for the APAC region. The acquisition enables EDPR to extend a truly global reach and to address its increasingly global client base as well as its continued commitment to renewable energy.

Who is sunseap & EDPR?

Sunseap, founded in 2011, is a leading renewable energy champion based out of Singapore and has a history of over 11 years in Renewables in the APAC region. In February 2022, EDP Renewables (EDPR) acquired a 91% stake in Sunseap. Since then, EDP Renewables APAC was formed, establishing a leading clean energy hub for the APAC region.

Who is sunseap solar?

Decade-old Sunseap is now a regional solar energy system developer, owner and operator, with more than 2,000 megawatt-peak of solar energy projects contracted across Asia. Backed by Japanese firms and other investors, it operates across Southeast Asia, China, Taiwan and Japan.

What happened to sunseap group?

Share, tag us, and land on our Wall of ❤️! Previously known as Sunseap Group, the company was acquired by renewable energy major EDP Group in 2021.