Thai utility Banpu Public Company Limited invests S$75m in Sunseap

SINGAPORE'S integrated clean energy solutions provider Sunseap Group has secured an investment of S$75 million from Banpu Public Company Limited, an energy company listed on the Stock Exchange of Thailand, the group said on Tuesday.

The additional funding from the Thai utility company, Sunseap's first strategic investor, will bring the group's equity value to S$300 million and will be used for solar projects across Asia.

The two companies plan to leverage each other's networks and domain expertise to grow in the alternative energy market in Asia and beyond.

Among Sunseap's clients are government agencies, major companies and small and medium enterprises. They include Apple, Housing Development Board, Singapore American School, Raffles Institution, the United Technologies Group, Jurong Port, ABB and Panasonic.

Outside of Singapore, Sunseap has a pipeline of projects in Cambodia, India, Thailand, Vietnam, Malaysia and Australia.