Renewable energy firm Sunseap has secured

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  • 20 Jun 2019 12:00 AM
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Sunseap Gets S$43m Loan to Put Solar Power Systems on Rooftops in Singapore

Renewable energy firm Sunseap has secured a S$43 million green loan to install solar power systems on rooftops across Singapore that combined, can generate enough energy to power more than 9,600 four-room HDB flats for one year. On Thursday, Sunseap said that the funding, from United Overseas Bank (UOB), will be used to install a series of solar photovoltaic (PV) systems on the rooftops of 210 sites, ranging from commercial and industrial to government premises. The solar power generated will also help reduce greenhouse gas emissions by 17,000 tonnes per year. This follows an earlier S$50 million loan Sunseap received from Dutch bank ING in April, to fund a 50 megawatt portfolio of rooftop solar projects in the Republic. The rooftop solar projects, developed and owned by Sunseap subsidiary Sunseap Commercial Assets, will range from about 100 kilowatts to five megawatts in size, and will benefit from long-term power purchase agreements with more than 20 international and domestic commercial and industrial corporates such as the Port of Singapore Authority (PSA).

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