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The Silicon Review Asia

Sunseap: powering your home and business with solar energy

The Silicon Review
December, 2019

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As renewable energy is no longer considered a niche technology, countries and energy companies have embarked on a race to impress the world with majestic clean energy projects of all kinds and demonstrate their true potential.Some projects are destined to meet increased national energy needs in the wake of phasing out fossil fuel power plants. Others are seeking to use a country’s competitive advantage and create energy export opportunities. After all, the charm of renewable energy sources is that they have the ability to change the world energy landscape, and give prominence to the new ‘energy exporters’.As renewable energy is no longer considered a niche technology, countries and energy companies have embarked on a race to impress the world with majestic clean energy projects of all kinds and demonstrate their true potential.

Sunseap Group is the largest and most established clean energy solutions provider in Singapore, with regional operations in South East Asia Pacific. We currently have a portfolio of pipeline and completed projects that are close to 2 GigaWatt-peak (GWp) of solar projects in Singapore and around the South East Asia and Pacific region.

Backed by institutional equity investors, venture capitalists and financial institutions such as Goldman Sachs and DBS, we have the resources to create a dedicated and bankable solution for our customers. From solar photovoltaic (PV) installations, to offsite clean energy supply, energy efficiency solutions, and project financing, our integrated and holistic approach will solve your energy needs and create added value for any business.

Vision and Mission

Vision
Affordable Clean Energy for Everyone

Mission
Spearheading clean Energy utilities and decarbonising solutions in a sustainable manner

Sunseap Green Finance Framework
Under this framework, Sunseap and its subsidiaries will be able to raise green financing instruments (including green loans, green bonds or other debt instruments) to finance or refinance green projects in three eligible areas: renewable energy, energy efficiency and green roof systems. These can include renewable projects including rooftop solar, run-of-river hydro and wind energy; energy efficiency projects for example smart grids, battery storage and LED lighting retrofits, as well as roof-top greenery projects.
Sustainalytics, a leading independent ESG and corporate governance research, ratings and analytics firm, was engaged to provide a second party opinion on Sunseap’s Green Finance Framework. Its report concluded that the framework is credible and impactful, and contributes to UN Sustainable Development Goals (SDGs) 7: Affordable and Clean Energy and 11: Sustainable cities and Communities.

Sunseap secures SGS$43 million Green Loan from UOB
Sunseap secured a SGD$43m green loan from United Overseas Bank (UOB) to fund the installations of solar photovoltaic (PV) systems on the rooftops of 210 sites, from commercial and industrial to government premises. Collectively, the sites have a total solar capacity of 37 MW-peak that can supply enough energy to power more than 9,600 4-room housing development board (HDB) flats for one year. The green loan, in an agreement with Sunseap Green Finance Framework, will tap various financing instruments to fund its projects and businesses with environmental benefits, mainly on the areas of renewable energy, energy efficiency and green roof systems.

Clean Energy Investments
Backed by reputable and credible financiers, Sunseap has developed and contributed to the development of the clean technology sector in Singapore and beyond. Till date, theyhave secured capital to fund their portfolio of solar projects of several hundred Megawatt-peaks. Their financial partners include; Goldman Sachs, DBS, UOB, ING and OCBC.Sunseap has also forged long-term relationships with strategic partners such as EDB, IE Singapore, SPRING Singapore, SERIS and DNV.

SolarGy, SolarPVExchange and Sunseap lend weight to UOB's solar financing plan

UOB has partnered homegrown solar companies SolarGy, SolarPVExchange and Sunseap Group for the Singapore portion of its regional U-Solar programme, which connects Asian businesses and individuals with the lenders solar company partners to help clients go green by switching to solar power.Under the collaboration, businesses and homeowners will be able to adopt solar energy by choosing from the installation, commissioning, operations and after-sales service packages for solar power systems provided by the three solar firms.To help with the costs of installing and maintaining the system, UOB will offer business owners solar equipment financing, while homeowners can opt for a zero per cent interest instalment plan of up to 36 months.

Meet the CEO and Executive Director Frank Phuan

Frank has over 20 years of experience in the solar industry, and possesses an Honours Degree in Applied Science in Materials Engineering from Nanyang Technological University (NTU). Prior to setting up the company, Frank spent time in his family business, manufacturing solar panels and learning the ins and outs of the business. An experienced entrepreneur, Frank also spent time delving into advertising, IT and F&B. Frank is also a member on the NTU College of Engineering Advisory Board.

“We are the leading clean energy solutions provider in Singapore specialising in Solar PPA, offsite clean energy supply, EPC and O&M solar PV solutions, demand-side management, energy efficiency and more.”

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