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Sunseap in joint venture to develop solar projects in Taiwan
SINGAPORE solar energy company Sunseap Group will be developing solar projects in Taiwan under a joint venture (JV) with Pacific Green Energy Co Ltd.
The JV company - Pacific Sunseap Energy Ltd - will focus on distributed photovoltaic projects in Taiwan, with plans to develop over 100 Mega Watt peak (MWp) of solar projects in the next three years.
Some of Sunseap's previous Taiwan projects include installing a two MWp solar system on the rooftops of a major AC cable manufacturer's new factory, and completing a 3.3 MWp canal-based solar system in Pingtung. It has also secured several projects in the manufacturing and agriculture sectors.
The JV follows Sunseap's recent foray into China, where it has set up an energy investment fund with private equity firm Guohe Capital and renewable energy company Starkle Energy.
The Guohe Starkle Energy Fund will invest primarily in Sino solar power projects.
Guohe Capital will facilitate fundraising, while Starkle Energy and Sunseap will advise on the projects to be invested and be involved in managing, operating and maintaining the photovoltaic systems.
Sunseap said it is targeting to achieve over 200 MWp of solar projects in China over the next two years.
The company said it also has a pipeline of projects in Cambodia, the Philippines, India, Thailand, Vietnam, Malaysia and Australia.
"We are excited to partner with Pacific Green Energy Co Ltd to expand into the Taiwanese market and we hope to replicate the success we’ve achieved in Singapore and regionally, in the areas of rooftop and ground mounted solar solutions," said Frank Phuan, co-founder and CEO of Sunseap.
"The joint venture will allow us to utilise Pacific Green Energy Co Ltd’s resources and leverage the company’s network and expertise in Taiwan, and in turn for Pacific Green Energy Co Ltd to leverage our skills and experience in delivering clean energy solutions in a reliable and cost-effective manner."