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Sunseap gets loan for 37 MWp of rooftop solar in Singapore

Solar panels. Photo by: Sunseap Group (www.sunseap.com).

June 20 (Renewables Now) - Singapore-based renewable energy firm Sunseap Group Pte has secured a green loan to support the roll-out of 37 MWp of rooftop solar photovoltaic (PV) projects in its home country.

Sunseap obtained a SGD-43-million (USD 31.7m/EUR 28.1m) loan from United Overseas Bank Limited Ltd (SGX:U11), the company said Thursday. The funds will be used to install PV systems on the rooftops of commercial, industrial and government entities. The 37-MWp capacity will be distributed between 210 sites.

Sunseap has already installed a 270-kWp PV array at the headquarters of Singaporean restaurant franchisor Sakai Holdings Ltd (SGX:5DO). The system is capable of generating up to one-third of the building’s power needs.

In the South East Asia and Pacific markets, Sunseap operates more than 150 MWp of projects. Another 350 MWp of projects is in the pipeline in Australia, Cambodia, China, India, Malaysia, Philippines, Taiwan, Thailand and Vietnam, according to Sunseap's website.

(SGD 1.0 = USD 0.74/EUR 0.65)

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Sladjana is the newest addition to the Renewables Now team. She has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry.

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