Scatec Solar and partners have closed financing for the 47 MWp Redsol project in Northwest Malaysia with a total investment of approximately US$47 million. BNP Paribas will provide the non-recourse project finance facility for the project, covering 73% of the project cost.
The solar power plant is expected to deliver 67 GWh of electricity per year with annual revenues of approximately US$6 million. The project is being realised in a consortium with Fumase (Malaysia) Sdn Bhd, a US- and Malaysia-based asset management and development company focused on renewable energy in South and Southeast Asia. The Redsol project was awarded under Malaysia’s second large scale solar tender round in December 2017.
Scatec Solar will provide 100% of the project’s equity. In addition, the company is turn-key EPC provider and will be providing Operation & Maintenance as well as Asset Management services to the power plant. Construction will start imminently with grid connection expected in fourth quarter 2019.
Country updates
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October 31, 2018
Malaysia's TNB connects 50 MW solar project to the grid
Tenaga Nasional Bhd (TNB) has announced that its Large Scale Solar (LSS) project located in Kuala Langat, Selangor has reached its initial operation date (IOD) with the first generated power...
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July 24, 2018
Poyry to build 25 MW solar project in Malaysia
Poyry won the contract to build the 25 MW solar photovoltaic (PV) project in Johor, Malaysia. Poyry got the contract from UITM Solar Power Dua Sdn Bhd. Poyry will assist in procuring the en...
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July 19, 2018
Serba Dinamik closed acquisition of 15% stakes in Green & Smart Holdings
Serba Dinamik, through its subsidiary, Serba Dinamik International, has acquired the 15% interest in Green & Smart Holdings PLC for GBP3.2 million (USD4.06773 m). The deal represent...
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April 23, 2018
Tenaga Nasional Bhd (TNB) has signed a 21-year long-term power purchase agreement (PPA) for the output of the project
Tenaga Nasional Bhd (TNB) has signed a 21-year long-term power purchase agreement (PPA) for the output of the project. The plant is expected to commence its operation before the end of 2018
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April 16, 2018
Malakoff Corp Bhd in collaboration with Zelleco Engineering Sdn Bhd has been commissioned to provide operations and maintenance service for the solar PV project
Malakoff Corp Bhd in collaboration with Zelleco Engineering Sdn Bhd has been commissioned to provide operations and maintenance service for the solar PV project. The entity to be setup by the two companies will be responsible for operating, maintaining and repairing the PV park for 21 years starting December 2018
