Singapore-based solar energy provider Sunseap secures series E funding

Sunseap Group, a solar energy provider based in Singapore, said it has secured its series E round from Dubai conglomerate Dutco Group.

Dutco operates in construction, integrated modular technology solutions, manufacturing, real estate, oil and gas, freight and logistics, and hospitality sectors.

The investment comes shortly after TNB Renewables, a wholly owned subsidiary of Malaysia’s national electricity company Tenaga Nasional Berhad, agreed to buy a 39% stake in Sunseap’s five solar projects in Vietnam.

Photo credit: Shawn Hempel / 123RF.

Founded in 2011, Sunseap Group a solar energy system developer, owner, and operator. It claims to have contracted 300 megawatt-peak (MWp) of solar energy projects. Out of this number, 168 MWp have been completed on more than 1,500 buildings in Singapore, including public housing estates as well as commercial and industrial buildings.

The fresh capital will go toward Sunseap’s solar projects in Singapore and the Asia-Pacific region. Its other markets include Australia, Vietnam, China, Taiwan, and Cambodia.

“The investment will help to take us to our next phase of growth where growing awareness of climate change, shifts in regulatory priorities and technological advances, have all combined to make renewable energy an attractive and viable option for all,” said Sunseap co-founder and CEO Frank Phuan.