The OCBC Bank (Malaysia) has led "green" syndicated loan extended to KBJ HECMY Sdn Bhd, a joint venture between Hanwha Energy Corporation Singapore Pte Ltd and Konsortium Berseri Jaya Sdn Bhd, to develop of a 30-MW solar photovoltaic (PV) farm located in Bukit Keteri, Perlis, Malaysia.
OCBC Bank was setting fresh benchmarks for “green” syndicated project financing involving LSS plants. They also will stop financing coal-fired power plants globally in order to inspire a shift to cleaner and greener sources of energy.
The solar plant is expected to start its commercial operations by 2020 under a 21-year power purchase agreement with Tenaga Nasional Bhd
The project financing structure for the promoter of the project, KBJ HECMY Sdn Bhd, is aligned to meet the Asia Pacific Loan Market Association’s green loan principles to ensure global acceptance and benchmarking.
Hanwha Energy Corporation Singapore Pte Ltd is a wholly-owned subsidiary of Hanwha Energy Corporation (HEC), which is a multinational energy solutions provider.
HEC is part of the Hanwha Group, one of the largest corporation in South Korea with business interests spanning chemicals & materials, aerospace & mechatronics, construction, financial services, leisure & lifestyle, and energy.
