One of Southeast Asia’s leading sustainable energy providers Sunseap Group has acquired a minority stake in Todae Solar, a solar commercial and industrial engineering, procurement and construction (EPC) company.
The strategic partnership aims to provide further growth opportunities for both companies to deliver larger and more complex projects in Australia. Sunseap will be able to leverage on Todae Solar’s expertise in solar EPC and construction management while Todae Solar will tap Sunseap’s expertise and track record in providing power purchase agreement solutions, project financing, operations and maintenance.
Co-founder and president of Sunseap Group Mr Lawrence Wu said this is Sunseap’s first investment in Australia’s commercial solar market.
“We believe that this is a timely move as the outlook for solar photovoltaics in Australia is bullish and the market is growing fast,” Mr Wu said.
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“Through this partnership, we will be able to tap Todae Solar’s extensive network of commercial clients to build a solar portfolio in the country.”
CEO of Todae Solar Mr Danin Kahn said the company will use this opportunity to further enhance its position as Australia’s “leading commercial installer”.
“This partnership will also help expand our reach in Australia through Sunseap’s Asian clients operating in Australia,” Mr Kahn said.
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Mr Kahn added that despite the synergies of working together, Sunseap’s investment will not affect business as usual operations including existing (or future) partners or suppliers.
Sunseap has a pipeline of projects in Cambodia, India, Thailand, Vietnam and Malaysia, including a 168-megawatt peak (MWp) solar farm in Vietnam, the largest in the country, a 62 MWp utility scale farm in the Philippines and a 10 MWp utility scale farm in Cambodia. In Singapore, it is the largest owner of solar rooftop systems, with more than 163 MWp of contracted capacity.
Todae Solar is the leading commercial and industrial EPC player with a 15-year track record of business continuity and project quality. It has installed solar power in thousands of locations across Australia including over 75-megawatt of combined solar energy for various businesses in the country.