Sunseap obtains S$43 million green loan from UOB to fund 210 rooftop solar sites

UOB logoPhoto by Leslie Shaffer

Sunseap received a S$43 million green loan from UOB to fund rooftop solar installations at 210 commercial, industrial and government sites, the Southeast Asian renewable energy player said in a statement Thursday.

The sites will have a total solar capacity of 37 megawatt peak, and are expected to generate enough electricity to power more than 9,600 four-room HDB apartments for a year, Sunseap said.

The solar power generated is also expected to reduce greenhouse gas emissions by 17,000 tonnes a year, the statement said.

“The loan demonstrates UOB’s confidence in the solar industry in general and Sunseap in particular,” Lawrence Wu, president and executive director of Sunseap, said in the statement.

Choo Kee Siong, head of industry groups for group commercial banking at UOB, said his bank was committed to supporting sustainable cities.

“Our continued financing of Sunseap’s activities is another example of how we promote and contribute to the region’s transition to renewable energy sources. We will continue to focus on identifying more opportunities to help economies, industries and companies reduce their carbon footprint,” Choo said.

Previously, Sunseap installed a 270 kilowatt-peak, 1,400 panel solar energy system at Sakae Holdings’ headquarters in Tai Seng, generating up to a third of the building’s energy needs, the statement said.

“Since we installed the solar energy system on our rooftop, we have not only been able to lower our carbon emissions but were also able to reduce our energy costs,” Lilian Foo, CEO and executive director of Sakae Holdings, said in the statement.

Sunseap is Singapore’s largest solar leasing company, and it targets markets in Southeast Asia and the Pacific region, the statement said.

Sunseap said it has signed Apple as a client, with an agreement to obtain all of its local energy needs from renewable sources.

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