,Singapore

Sunseap secures $43m green loan from UOB

It will fund 37MWp of solar PV installations at 210 sites.

The renewable energy firm, Sunseap, has secured a $43m green loan from United Overseas Bank (UOB) to boost the use of solar power in Singapore.

The green loan will be used to fund the installations of solar photovoltaic (PV) systems on the rooftops of 210 sites, from commercial and industrial to government premises. Collectively, the sites have a total solar capacity of 37 MW-peak that can supply enough energy to power more than 9,600 4-room housing development board (HDB) flats for one year.

Sunseap has previously worked with Sakae Holdings, a Singapore-based food and beverage company (F&B), to install solar PV systems. In the client’s headquarters in Tai Seng, the 270kWp solar energy system has 1,400 solar panels that can generate up to one-third of the building’s energy needs.

Established in 2018, the green loan, in an agreement with Sunseap Green Finance Framework, will tap various financing instruments to fund its projects and businesses with environmental benefits, mainly on the areas of renewable energy, energy efficiency and green roof systems.

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