Sunseap signs 25-year PPA for 5 MW in Singapore

Sunseap signs 25-year PPA for 5 MW in Singapore

Singapore's Sunseap Group has agreed to sell PV-generated electricity to ST
Kinetics over a 25-year period across five locations in the Southeast Asian
city-state.

Sunseap expects to finish building a 5 MW rooftop solar array for ST
Kinetics - a unit of ST Engineering that produces land systems and specialty
vehicles - by October, according to an online statement. The two companies
did not reveal the terms of the deal.

Although small in global terms, the 5 MW deal is significant in the context
of Singapore's tiny but rapidly growing PV market. Total installed solar
capacity in the city-state hit roughly 126 MW at the end of 2016, from just
60 MW in December 2015, according to the International Renewable Energy
Agency (IRENA).

In May 2016, Sunseap signed a strategic cooperation agreement with Chinese
inverter supplier Huawei. Under the terms of the deal, the Singaporean
company will buy at least 300 MW of inverters from Huawei over a three-year
period, for use in its solar projects across Southeast Asia.

Earlier this month, Shell Technology Ventures - a unit of petroleum producer
Royal Dutch Shell - revealed that it would invest an undisclosed sum in
Sunseap. The investment came roughly three months after Sunseap finalized a
$15 million financing deal with United Overseas Bank. The developer is using
the funds to back the development of a 2.4 MW solar array at a facility
owned by Panasonic, as well as a 9.5 MW PV installation at the port of
Jurong.

The Sunseap Group includes three subsidiaries. PV-focused Sunseap Leasing
handles PPAs for rooftop solar arrays, while Sunseap Energy sells
electricity generated by the group's PV projects.

Meanwhile, the group's third main unit - PV developer Sunseap International
- is increasingly working on solar projects outside of Singapore. In April,
it secured $9.2 million of funding from the Asian Development Bank to
support the development of the first utility-scale solar project in
Cambodia. The 10 MW plant is being built in Svay Rieng province, on the
border with Vietnam. Construction will be completed at some point this
month.

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Link to Original Article:
https://www.pv-magazine.com/2017/08/25/sunseap-signs-25-year-ppa-for-5-mw-in
-singapore/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com