January 16 (Renewables Now) - Singapore-based Sunseap Group announced today it has bought a minority stake in Australian solar plants builder Todae Solar as part of a new strategic partnership that is expected to benefit both parties.
Sunseap said in a statement that the move will allow it to make use of Todae Solar’s expertise in solar engineering, procurement and construction (EPC) and construction management. At the same time, the Aussie firm will leverage Sunseap’s know-how in the provision of power purchase agreement (PPA) solutions and project financing, as well as in operations and maintenance (O&M).
Todae Solar is working with commercial and industrial customers and has installed more than 75 MW of solar systems for various businesses in the country.
Lawrence Wu, co-founder and president of Sunseap Group, commented that Todae Solar’s extensive network of commercial clients will enable the group to establish a solar portfolio in Australia. “We believe that this is a timely move as the outlook for solar photovoltaics in Australia is bullish and the market is growing fast,” he stated.
Sunseap has a pipeline of projects in Cambodia, India, Thailand, Vietnam, Malaysia and the Philippines. In Singapore it owns rooftop arrays with a combined contracted capacity surpassing 163 MWp.