Sunseap Group, a Singapore-based renewable solutions provider, has secured an $85.8 million loan for its 70 MW SolarNova 4 project to install solar PV systems across more than 1,200 public housing blocks and 49 government sites. DBS Bank and UOB will each provide half the loan amount utilizing Sunseap’s Green Financing Framework. Facebook previously signed a Virtual Power Purchase Agreement (VPPA) with Sunseap to purchase renewable energy credits (RECs) from the excess energy generated from solar panels in the SolarNova 4 project. The surplus solar energy from these sites is exported to the power grid, and the RECs are sold by Sunseap to Facebook under the private VPPA deal.