  The interaction between localized f and itinerant conduction electrons is
crucial in the electronic properties of heavy fermion and valence fluctuating
compounds. Using high-resolution angle-resolved photoemission spectroscopy, we
systematically investigate the electronic structure of the archetypical valence
fluctuating compound EuNi2P2 that hosts multiple f electrons. At low
temperatures, we reveal the hybridization between Eu 4f and Ni 3d states, which
contributes to the electron mass enhancement, consistent with the periodic
Anderson model. With increasing temperature, interestingly, we observe opposite
temperature evolution of electron spectral function above and below the Kondo
coherence temperature near 110 K, which is in contrast to the monotonic valence
change and beyond the expectation of the periodic Anderson model. We argue that
both f-d hybridization and correlation are imperative in the electronic
properties of EuNi2P2. Our results shed light on the understanding of novel
properties, such as heavy fermion behaviors and valence fluctuation, of
rare-earth transition-metal intermetallic compounds with multiple f electrons.
