Lawrence Wu is a co-founder of Sunseap, alongside Frank Phuan. He studied at Nanyang Technological University.
Sunseap Leasing was founded in 2011. The company had no licence to sell energy, so it leased solar equipment and billed customers by monthly usage. That model created recurring revenue and became Singapore's solar leasing approach.
Sunseap was funded mainly by bank loans and growth investors. In February 2022 EDP Renewables acquired 91% of the company in a deal worth S$1.1 billion. Frank Phuan stayed on as CEO.
By 2022 Sunseap had equipped more than 3,000 buildings in Singapore. It is now a subsidiary of EDP Renewables.