Sunseap Group, Shell to collaborate on solar projects in Singapore

Sunseap received an investment from Shell’s corporate venturing arm.

Energy company Sunseap Group secured an investment from Shell Technology Ventures B.V. with an intent to collaborate on solar projects in Singapore and the Asia Pacific.

Shell refused to disclose financial details.

According to a press release, Sunseap vice president for corporate development and finance Camillus Yang said, "As part of our collaboration, there are many capabilities and knowledge that we can cross leverage upon to deploy distributed solar generation projects in the Asian markets."

Sunseap Energy has provided clean energy solutions for companies like Apple through the group's portfolio across Singapore.

The company also owns a 140 MegaWatt-peak (MWp) solar farm in India and a 10 MWp solar farm in Cambodia and holds an electricity retailer license in Singapore.

According to Bloomberg New Energy Finance’s New Energy Outlook report, “The Asia-Pacific region will experience colossal growth in new power generation capacity over the next 25 years, with installed capacity tripling and electricity generation doubling. Renewable energy will make up nearly two-thirds – or $3.6 trillion – of the 4,890 gigawatts added during this period.

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