- Sunseap Group of Singapore has received investment from oil company Shell
- Shell has invested through its corporate venturing arm Shell Technology Ventures B.V.
- The two companies have not disclosed the investment details
- They shared that the two will collaborate on solar power projects in the Asia Pacific region, including Singapore
Sunseap Group has secured investment from oil major Shell, which has invested in the Singapore based clean energy solutions provider through its corporate venturing arm, Shell Technology Ventures B.V. However, the two have not disclosed the investment amount.
Shell ans Sunseap will collaborate on solar power projects in the Asia Pacific (APAC) region, including Singapore.
Sunseap has firmly established itself in the distributed solar power generation in Singapore and the APAC region. With 160 MW of distributed solar contracts in Singapore, it is also active in the field of utility scale solar projects in the region. In its parent country, Sunseap also holds an electricity retailer license.
Previously, Sunseap partnered with tech giant Apple to power the tech company’s operations in Singapore with 100% solar energy.
Camillus Yang, Sunseap’s vice president for Corporate Development and Finance said that with Shell’s backing, the two can share capabilities and knowledge to deploy distributed solar generation projects in the Asian markets.
“We are excited about Shell Technology Ventures’ investment in Sunseap Group and Shell’s potential collaborations with the company on solar projects in the Asia-Pacific region,” said Marc van Gerven, Vice President of Solar at Shell New Energies. Adding, “We are impressed by Sunseap’s ability to deliver innovative and affordable renewable energy solutions to meet customers’ needs, including through its strong distributed solar generation asset base in Singapore.”
Van Gerven joined Shell in 2016 from First Solar to re-establish the oil company’s solar business. Shell Solar is based in Amsterdam and focuses on solar projects.