Recently, Japan's Shikoku Electric Power Company, Sumitomo Corporation and a Singaporean company jointly established a joint venture company specializing in the development and operation of photovoltaic power generation. The company was established to expand its renewable energy business in Japan.
The joint venture Sun Trinity was initiated and established by Japan's Shikoku Electric Power Company, Japan's Sumitomo Corporation and the Singapore-based Sunseap Group, which is engaged in photovoltaic power generation in Southeast Asia. Shikoku Electric Power Company has not disclosed the specific investment amount. The Japanese government has set development goals for photovoltaic power generation, and by 2030, renewable energy will account for 36% to 38% of Japan's total power generation. The joint venture Sun Trinity plans to install photovoltaic panels on the roofs of factory buildings across Japan and sell electricity. Shikoku Electric Power is mainly responsible for power technical support and sales in the Shikoku region.
Sunseap is developing a distributed photovoltaic power generation business with a total equity capacity of about 220 MW in Singapore and other Asia-Pacific regions, and currently ranks first in the distributed photovoltaic market share in Southeast Asia. In addition, it is also developing a clean power retail business that utilizes the surplus power and environmental value generated by the distributed photovoltaic power generation business, and is also developing a VPP (Virtual Power Plant) business and an ESCO (Energy Service Company) business.