Singapore-based renewable energy company Sunseap Group Pte Ltd has secured an investment from Shell Technology Ventures B.V., Shell’s corporate venturing arm, with an intent for Sunseap and Shell to collaborate on solar projects in the Asia Pacific region, including Singapore. The amount of the investment was not disclosed. According to the company, Sunseap has about 160 MW of distributed solar contracts in Singapore, both operational and under construction, holds an electricity retailer license in Singapore and has also secured utility scale solar projects in the region.
In May, Sunseap received funding of $10.7 million from the United Overseas Bank to develop a 9.5 MW commercial solar project and a 2.4 MW solar system at Panasonic in Singapore. In April, the Asian Development Bank has agreed to lend €9.2 million to Sunseap Group for the building of a 10 MW solar facility in Cambodia.
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