Southeast Asia has grown increasingly more important for the solar-power industry. Abundant sunshine — generally cheaper than grid electricity — and the political will to tackle greenhouse and emissions are creating opportunities for companies looking to transform the region’s fossil-fuel dependency.
One such company is Sunseap, led by Frank Phuan, now the largest clean-energy-solutions provider in Singapore. Phuan founded the company as a solar-panel manufacturer in 2001, in partnership with his father, but in 2011 focused on solar energy as service.
That same year Sunseap got its first project: installing solar systems on the rooftops of 40 public-housing blocks in Singapore. The company says it has installed systems on more than 1,500 blocks so far, generating enough energy to power 42,000 four-room apartments each year.
The potential has not gone unnoticed. This year the company has secured a total of $100 million in investment from backers including Singapore’s state-investment vehicle Temasek Holdings and Thai energy company Banpu.
“Sunseap believes sustainability is not just a buzzword, but an imperative,” Phuan tells Business Insider. “Innovation is key to building sustainable communities.”