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Singapore's Sunseap and Shell to collaborate on solar projects in Asia-Pacific
SUNSEAP Group, a solar leasing company and solar energy system developer in Singapore, has secured investment from Shell Technology Ventures BV to collaborate on solar projects in the country and the Asia-Pacific region.
Sunseap, which helps clients such as Apple cut their carbon footprint cost, holds an electricity retailer licence in Singapore. It also secured utility scale solar projects in the region, including a 140 MegaWatt-peak (MWp) solar farm in India and a 10 MWp solar farm in Cambodia.
Sunseap director Frank Phuan said that the group is looking forward to working with Shell to further grow its business.
On Shell's investment, Marc van Gerven, vice-president of solar at Shell New Energies, said: "We are impressed by Sunseap's ability to deliver innovative and affordable renewable energy solutions to meet customers' needs, including through its strong distributed solar generation asset base in Singapore."
No financial details were given.
Sunseap cited Bloomberg New Energy Finance's New Energy Outlook report which said that the Asia-Pacific would experience "colossal growth" in new power generation capacity over the next 25 years. Installed capacity is projected to triple, and electricity generation to double. Renewable energy will make up nearly two-thirds - or US$3.6 trillion - of the 4,890 gigawatts added during this period.