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  • Tatler Singapore

    MOVING THE NEEDLE OF CLEAN ENERGY

    Dec 10, 2021 4 minutes
    By Jennifer Chen.

    Sunseap’s much-anticipated initial public offering this year did not happen, but CEO Frank Phuan comes to this interview with game-changing news. The world’s fourth largest renewable energy producer EDP Renewables (EDPR) has just bought a massive slice of the home-grown solar energy company in a deal valuing Sunseap at $1.1 billion.

    With access to the technology, expertise and financial resources of a global firm worth US$28 billion, Sunseap can take on larger, more complex projects. Not that it doesn’t already have an impressive list of accomplishments. Sunseap’s revenue last year was $145.2 million, nearly six times what it was in 2016. On top of developing solar systems in Singapore, it has expanded into Cambodia, China, Japan, Malaysia, Taiwan, Thailand and Vietnam.

    The most significant milestone in the firm’s history,

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