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.
Country updates
-
-
May 24, 2019
Scatec Solar connects 65 MW solar project in Malaysia
Scatec Solar and partners have grid-connected its second solar power plant in Malaysia, the 65 MW (DC) Jasin plant. This plant is the second of three 65 MW solar plants under completion by Scatec Sola...
Read more -
May 08, 2019
ARB Berhad agrees to acquire 51% stakes in C&M Renewable Energy Technology
Malaysian investment holding company ARB Berhad has agreed to acquire a 51% stakes in local solar developer C&M Renewable Energy Technology Sdn Bhd (CMSB) for MYR5.5 million (US$ 1....
Read more -
February 02, 2019
Equinor partners with Global Petro Storage LPG terminal in Port Klang
Norwegian oil and gas firm Equinor has signed an agreement with Global Petro Storage (GPS) to jointly develop a liquefied petroleum gas (LPG) terminal and storage facility in Port Klang...
Read more -
January 27, 2019
TNB achieves financial close for its 30 MW solar project in Kuala Muda
Tenaga Nasional Berhad (TNB) has secured MYR144 million (US$34.89 million) financing for its second Large Scale Solar (LSS) project in Malaysia in Bukit Selambau, Kuala Muda, Kedah. TNB’s wholl...
Read more -
December 21, 2018
Scatec Solar's 65 MW Malaysian PV project begins commercial operation
Scatec Solar and partners’ have grid connected and reached commercial operation (COD) for the 65 MW Gurun solar power plant in Malaysia. The Gurun plant is the first of three 65 MW solar plants...
Read more
