Solar player Sunseap raises S$77m for expansion
It will double contracted solar project capacity and expand into India, Thailand and the Philippines
Singapore
SUNSEAP Group, one of Singapore's largest and leading providers of solar energy, announced on Wednesday that it has raised S$77 million in equity and debt capital to fund its expansion plans and to hasten the adoption of solar power in Singapore. This brings its enlarged enterprise value to S$230 million.
Of the S$77 million, up to S$27 million is a Series B investment led by Trirec, a new Singapore-based cleantech fund backed by international investors such as Enspire APUS Investments and Hong Kong-based Chow Tai Fook Enterprises; close to S$50 million is debt funding in the form of a loan facility from DBS, The Business Times has learned.
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