Japan’s Marubeni and France’s GDF Suez will lead a consortium to buy Singapore’s biggest power station in a S$4bn (US$2.8bn) deal, after being selected by state investment company Temasek Holdings as its buyer on Friday.

The Senoko power plant is the second of three local power stations that Temasek Holdings has put up for sale as part of a policy to liberalise the city-state’s energy sector.