IFC in talks to invest over $10m in Malaysian solar firm

IFC in talks to invest over $10m in Malaysian solar firm

The International Finance Corporation (IFC), the private lending arm of
World Bank Group is in talks to make investments worth over $10 million in
Malaysia's renewable energy sector.

"We are looking at renewable energy sector, primarily a solar company. We
will make a minimum investment of $10 million or more than that," IFC
Country Manager for Malaysia and Indonesia Azam Khan told DEALSTREETASIA on
the sidelines of an event in Kuala Lumpur.

Khan, who took charge as the country manager for IFC earlier this month,
said that the multilateral lending agency will look at a cross-border angle
in the investment.

IFC finances electricity generation, transmission and distribution
investments across a range of technologies with a focus on natural gas and
renewable energy such as solar, wind and hydro. The agency has financed more
than 320 power projects in over 60 countries.

Meanwhile, solar power and related businesses have fueled great interest for
companies in Malaysia and other countries in the region. The Malaysian
government enacted the Renewable Energy Act in 2011 to establish and
implement a special tariff system that makes generation of renewable energy
more affordable.

Recently, US-based SunPower Corp announced the purchase of Taiwan-based
AUO's portion a 2010 joint venture company that manufactures solar cells at
an 800 MW factory in Melaka in Malaysia.

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Ref:
http://www.dealstreetasia.com/stories/ifc-mulls-investing-over-10-million-in
-a-malaysian-solar-firm-53892/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com