SINGAPORE - Sustainable energy provider Sunseap Group has signed a memorandum of understanding (MOU) with China-based Jiangsu Linyang Energy Co to develop renewable energy and energy efficiency management solutions.
The two companies plan to explore collaborations on solar photovoltaic projects both as a potential supplier of solar panels as well as potential co-investor. They also "propose to work jointly on projects to enhance energy efficiency and virtual power stations, and to adopt leading solar panel technology through the supply of Jiangsu Linyang's N type bifacial solar panels", Sunseap said in a press release.
Shanghai-listed Jiangsu Linyang Energy is a supplier of smart electronic energy meters and electricity management information systems in China, while Sunseap has an 80 per cent share of the renewable energy market in Singapore, the release highlighted.
Frank Phuan, co-founder and director of Sunseap Group, said: "We see much potential in leveraging our networks and domain expertise to deliver innovative clean energy solutions in a reliable and cost-effective manner to grow in the renewable energy market in Asia."
Jue Cheng, chief executive of Singapore Linyang Energy Technology, said: "The partnership will combine the strengths of both companies to offer optimum clean energy solutions to our customers."
Sunseap, which developed the majority of grid-connected photovoltaic power plants in Singapore, is also exploring the use of smart control systems and batteries under the Energy Market Authority's OptiWatt programme. Some of its clients include Apple, Housing Development Board, Singapore Cruise Centre, Jurong Port and Panasonic.