Sumitomo completed the investment in Sunseap Group.

Sumitomo, a provider of export trade, technology transfer and supply chain management, completed the investment in Sunseap Group, a solar energy solutions provider in Singapore. Financial terms were not disclosed. Electric power providers are rapidly accelerating decarbonization, decentralization and digitalization (3Ds) as they face the need to tackle climate change issues, the widening demand for renewable energy, and the prevailing social implementation of AI and IoT. In response to such changes, Sumitomo will collaborate with Sunseap to provide comprehensive clean energy solution services tailored to the needs of customers in Japan and abroad. Notably, in Japan, the company will partner with Shikoku Electric Power company and Sumitomo Mitsui Finance and Leasing company, both of which have also invested in Sunseap, to build an agile business platform by consolidating the strengths of each company involved.