Sunseap gets S$43m loan to put solar power systems on rooftops in Singapore

Mr Lawrence Wu, president and executive director, Sunseap Group, Ms Lilian Foo, CEO and executive director of Sakae Holdings, Mr Choo Kee Siong, head of Industry Groups, Group Commercial Banking, UOB and Mr Edmund Leong, head of Group Investment Banking, UOB at the roof of Sakae’s headquarters in Tai Seng where the solar panels are installed.

On Thursday, Sunseap said that the funding, from United Overseas Bank , will be used to install a series of solar photovoltaic systems on the rooftops of 210 sites, ranging from commercial and industrial to government premises.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.

On the loan from UOB, Lawrence Wu, president and executive director at Sunseap, said they are"delighted to have received the support of a forward-thinking institution such as UOB, which is known for their strong support of Singapore enterprises". Choo Kee Siong, UOB's head of industry groups, group commercial banking, said the bank is committed to working with clients to support the development of sustainable cities and communities.

"Our continued financing of Sunseap’s activities is another example of how we promote and contribute to the region’s transition to renewable energy sources. We will continue to focus on identifying more opportunities to help economies, industries and companies reduce their carbon footprint," Mr Choo added.

Source: News Formal (newsformal.com)

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