TNB secures RM339m financing for its first large scale solar project in Malaysia

TNB secures RM339m financing for its first large scale solar project in
Malaysia

Tenaga Nasional Bhd (TNB) has secured RM339 million financing for its first
Large Scale Solar (LSS) project in Malaysia.

In a statement today, the national utility corporation said its unit TNB
Sepang Solar Sdn Bhd (TSS) had secured the amount through Affin Islamic Bank
Bhd, who will be providing funding and working capital requirements for the
said project.

TSS was set up as a special purpose vehicle to undertake the project, which
was awarded by the Energy Commission through a competitive bidding exercise,
TNB said.

A Solar Power Purchase Agreement (SPPA) for the project was also inked in
early March 2017 between TNB and TSS.

Under this 21 year agreement, TSS would supply electricity to TNB, through
the national grid, from the 50MW (megawatt) LSS. It will begin its
commercial operations in November 2018. Once completed, the LSS will also be
Malaysia's largest solar farm.

TNB Vice President (Energy Ventures), Datuk Nor Azman Mufti described the
project as a booster to TNB's aspiration in championing renewable energy
(RE) in Malaysia.

"As many utility companies around the world are shifting towards RE, TNB
also aspires to be the ASEAN leader in renewable energy by 2025," Azman
Mufti added.

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Link to Original Article:
http://www.theedgemarkets.com/article/tnb-secures-rm339m-financing-its-first
-large-scale-solar-project-msia

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com