MUFG Bank (Malaysia), a subsidiary of Mitsubishi UFJ Financial Group, Inc., has announced that it acted as mandated lead arranger and sole green structuring advisor for an MYR342 million (US$83.00 million) syndicated financing facility for the development of a 100 MW solar plant located in Perak, Malaysia.
The Kerian solar plant, named after a district in northwestern Perak, is commissioned by a consortium comprising local power company TTL Energy Sdn Bhd and ENGIE Asia Pacific (ENGIE), the APAC arm of the French multinational energy company Engie SA, which
was one of the successful bidders under the third cycle of the Large-Scale Solar (LSS3) scheme introduced by the Malaysian government to increase electricity generation from renewable energy.
It is scheduled for commercial operation in Q1 2022 under a 21-year Power Purchase Agreement with Tenaga Nasional Berhad (TNB).
