Sunseap's solar capacity in Singapore crosses 300MWp milestone

By Natalie Tham
May 19, 2020

In May 2020, we crossed a new milestone of more than 300 MegaWatt-peak (MWp) contracted solar capacity in the Republic. This milestone is significant not only for Sunseap, but Singapore as well. Our contracted capacity of 301.12 MWp can potentially offset more than 161.1 million metric tons of carbon emissions annually, equivalent to growing over 2.7 billion tree seedlings for 10 years*.

Our installed capacity of nearly 168 MWp is almost half of the 350 MWp deployment target by the Singapore government for 2020. We target to install the balance contracted capacity of about 135 MWp by end-2021.

Mr Frank Phuan, Co-Founder and CEO of Sunseap, said: "Sunseap is gratified that we are able to contribute to the greening of Singapore in our business. As we embark on the next phase of growth, we look forward to supporting more businesses and individuals both locally and in the region, to build a sustainable future. Climate change undermines health and social systems and the Covid-19 pandemic is a daily reminder that we need to urgently protect these systems."

Mr Lawrence Wu, President and Executive Director of Sunseap, said: "We are grateful to all our stakeholders who have helped us to reach this remarkable milestone in such a short period of time. Sunseap will remain a vital player in the renewable energy industry in Singapore and we are committed to exploring more innovative energy efficient and demand supply solutions that will help us make a difference."

Previous milestones

APRIL 2020 – Sunseap is among the list of fastest-growing businesses in Asia Pacific 2020, published by Financial Times
In Apr 2020, we were recognized by the Financial Times as one of the fastest-growing businesses in Asia Pacific 2020. Sunseap is among the Top 10 Energy Companies in the region and the only Energy company from Singapore that has made it into the list.

The rankings were computed based on audited revenue figures from 2015 to 2018. Since then, we have expanded our suite of solutions, going beyond solar such as energy efficiency solutions and demand side management technologies.

APRIL 2020 – Sunseap's first sustainability impact report shows positive impact on environment
In Apr 2020, we released our first sustainability impact report which shows that the solar energy generated by the company produced a positive impact on the environment resulting in more than 58,000 tonnes of greenhouse gas (GHG) avoided in 2019. This is equivalent to growing more than 959,042* tree seedlings for ten years.

Sunseap is among the first private companies in Singapore to embark on the voluntary sustainability report exercise which was implemented amidst a challenging environment posed by the Covid-19 pandemic, including having to quickly replace in-person workshops with online video conferences and implementing other social distancing measures.

FEB 2020 – Sunseap raises $100 million in Series D funding
In Feb 2020, we raised S$100 million in its fourth round of fund-raising from Banpu, a listed company on the Stock Exchange of Thailand, as part of our commitment towards sustainability.

Banpu is a leading integrated energy solutions company with three core groups of business - energy resources, energy generation and energy technology - and has expanded into 10 countries in the Asia-Pacific region. Banpu's commitment to sustainability while growing its business has led to the reorganisation of some of its operations to create Banpu NEXT, a move that is expected to be completed by the end of February.

JAN 2020 - Sunseap receives $50 million funding from ABC World Asia and Temasek
In Jan 2020, we secured a total of S$50 million from ABC World Asia, an Asia-focused impact investing private equity fund, and Temasek, a global investment company headquartered in Singapore.

The investment will be used for solar projects in Singapore and other parts of Asia.

With solar systems installed on the rooftops of more than 1,500 public housing HDB blocks in Singapore, Sunseap currently produces enough clean energy to power approximately 42,000 four-room HDB households annually. It allows residential customers to reduce their carbon footprints by switching to certified green energy through the liberalised electricity retail market.

OCT 2019 - Sunseap wins tender for one of Singapore's largest solar projects to install more than 170,000 solar panels on HDB rooftops
In Oct 2019, we won the tender for one of Singapore's largest solar projects to install more than 170,000 solar panels on rooftops of Housing & Development Board (HDB) blocks.

Under SolarNova 4, Sunseap will be installing solar photovoltaic (PV) systems across more than 1,200 HDB blocks and 49 government sites.

The PV systems, when completed, will generate up to 70 MWp of solar energy, which can potentially offset about 42,152 tonnes of carbon emissions, an amount typically generated from powering about 17,500 4-room HDB flats annually. Including SolarNova 4, Sunseap will have installed more than 600,000 solar panels across 2.4 million square meters of roof space, and produce enough clean energy to power more than 60,000 4-room HDB households.

SEPT 2019 – Sunseap is the winner of the 2019 Singapore Prestige Brand Award, Regional Brand Category
In Sept 2019, we received the Singapore Prestige Brand Award (Regional Brand Category).

The Singapore Prestige Brand Award (SPBA) was inaugurated in 2002 by the Association of Small & Medium Enterprises (ASME) and Lianhe Zaobao. Today, the SPBA continues to recognise and honour Singapore brands that have been developed and managed effectively through various branding initiatives.

Sunseap is honoured to be one of only two winners awarded last year in the Regional Brand Category.

MAR 2018 – Microsoft and Sunseap sign agreement on largest-ever solar project in Singapore
In Mar 2018, Microsoft purchased 100 percent of the renewable output from new 60MW solar project, supporting development of new solar projects and greening of Singapore's grid.

Microsoft Corp. on Thursday announced a new agreement with Sunseap Group that marks Microsoft's first clean energy deal in Asia and will create the single largest solar energy portfolio in Singapore to date.

This 60 megawatt-peak (MWp) solar portfolio will span hundreds of rooftops across the nation. This is the largest rooftop solar project in Singapore and the first rooftop solar portfolio in the country focused on serving datacenter energy consumption.

And many more milestones that has helped us achieve where we are today...

As Sunseap continues our mission to solarize Singapore and the region and promote sustainability, we look forward to reaching more milestones in the future and sharing more of our milestones with you.