Japanese oil company Eneos Holdings Inc is planning to acquire Japan Renewable Energy for about $1.8 billion from Goldman Sachs and Singaporean sovereign wealth fund GIC, the Nikkei business daily reported on Thursday.

The deal would mark the first major purchase of a renewables firm by a top Japanese oil company, the Nikkei said, as Eneos looks to move away from fossil fuels.

An Eneos spokesperson said the company was considering various options to expand its renewable energy business but that nothing had been decided.