Sunseap: The Largest Clean Energy Solutions Provider in Singapore

Sunseap Group - Craft Driven

Sunseap was initiated with the aim of delivering sustainable and affordable energy. It holds 3 entities; Sunseap Leasing, Sunseap International and Sunseap Energy. In 2011, the first group Sunseap Leasing was incorporated to provide rooftop solar solutions to the masses in Singapore by Mr Frank Phuan and Mr Lawrence Wu. In Singapore, Sunseap Group is the largest solution provider of clean energy and its portfolio range from rooftop installations to floating photovoltaic (PV) systems. In 2015, Sunseap Energy was launched and it is the latest addition to the company group.

Sunseap Group’s second business unit, Sunseap International is managing all its group activities beyond Singapore. Cambodia, Thailand, Philippines, India, Malaysia and Australia are the other countries where the company has offices and operations. In Nov 2015, Sunseap Energy Pte Ltd made waves when it announced that it will be providing 100% clean electricity first in South East Asia to the tech giant – Apple’s operation in Singapore. Sunseap provides both services clean electricity supply and solar leasing to wholesale and retail with solutions in funding, development, designing, engineering and construction.

Sunseap Funding and Investments:

Sunseap Group Pte Ltd has a total of 5 rounds funding of $156 million from 9 investors.

Funding:

Date

Round

No. Of Investors

Amount

Investors

Apr 4, 2019

Debt Financing

1

$3.7 Million

ING Group

Sep 20, 2017

Funding Round

1

$55 Million

Banpu

May 9, 2017

Debt Financing

1

$15 Million

United Overseas Bank

May 2, 2017

Series C

1

$4.8 Million

ISOTeam

Aug 6, 2015

Series B

5

$77 Million

TRIREC

Lead Investors:
  • ING Group
  • Banpu
  • United Overseas Bank
  • ISOTeam
  • APUS Investments
  • TRIREC
  • DBS Bank
  • Enspire Capital
  • Chow Tai Fook

Sunseap: An Industry Veteran:

The company is an industry veteran with a portfolio of esteemed clients and delivering bankable clean energy solutions which allow their clients to utilise affordable and clean energy. It is a one-stop service for cleaning energy solution that includes such components; funding, development, designing, engineering and construction. Under the Energy Market Authority (EMA), Sunseap has unique positioning as both a licensed Electricity Retailer and Wholesaler that enables the company to develop its two business models, such as clean electricity, supply and solar leasing.

The company has signed three energy improvement deals, such as to install a solar system, supply clean energy and install an energy-efficient LED lighting system at Fuisland Offset Printing, which is an established one-stop print service provider in Singapore.  Also, the company has sealed its first green loan for rooftop solar projects in ASEAN with ING this April. In Singapore, this rooftop solar project will range from approximately 100KW to 5MW in size and it is going to benefit the long-term Power Purchase Agreements of the country with more than 20 domestic and international commercial and industrial corporates such as PSA.

Competitors of Sunseap:

There are various contenders of Sunseap Group Pte Ltd in the market some of them are Cemig, ENGIE Distributed Solar, CircuiTree, Baker Electric Home Energy etc. But in the last five years, Sunseap Group of Companies has applied its ‘new direction’ to a solar energy market that already thriving from the organisation’s unrivalled capacities and innovation. The company focussed on the need and demand for affordable and sustainable energy before adopting its Solar Power Purchase Agreement (PPA). Currently, Sunseap Group is the only company in the market and also, in Singapore, which has enough generation capacity to distribute clean energy via the national grid.

“We are also self-reliant and vertically integrated, performing key processes in-house; such as installation, maintenance, and monitoring. We are also looking to provide complete energy solutions through R&D,” Sunseap.

Cemig engages in the generation, transmission, distribution, and sale of electricity; ENGIE Distributed Solar specializes in solar energy solutions for commercial, industrial, cooperative and municipal customers; whereas, Circuitree is a clean energy generation, capture and storage specialist. Only Sunseap Group is the largest clean energy solution provider as the company is fully dedicating resources to R&D, and the team is capable of innovative drivers and are able to test latest technologies, and at the same time, find out ways to improve their processes to better serve their clients.

Prospective for Sunseap Group Pte Ltd:

With the strong esteemed clientele and long-term relationships of Sunseap Group Pte Ltd, the company strives to deliver bankable clean energy solutions and at the same time, it is making economically viable for their customers where they can enjoy affordable clean energy without any hefty costs. With the increasing demand for renewable energy in every industry is creating a huge opportunity for Sunseap to expand internationally as well with their affordable clean energy strategies.

Recently, in India, the Delhi Metro Rail Corporation (DMRC) has announced that from the year 2021 Delhi Metro will be harnessed solar energy for the entire range of operations. Currently, 60% of the operations of DMRC are running on solar power. After this harnessing solar power for 100% on their metro’s operations, DMRC will become the World’s First 100% ‘Green’ Energy Metro Rail Network.

Moreover, solar power can be utilised in public transportation if we use such solar power in public transportation vehicle it will be more cost-efficient and affordable for both the government and citizens as well. Likewise, as solar power installation is a big success for organisations, such as school, colleges, institutions, etc. In Singapore, schools and institutions are taking advantage of such cost-effective and affordable strategies to minimise their electricity bill and use clean energy.

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