AFFIN ISLAMIC FINANCING PERAK SOLAR PROJECT
Bank signs deal to finance large-scale solar development in Bidor, Perak
AFFIN lslamic Bank Bhd is keen to explore more financing opportunities in the fields of green technology and renewable energy, said chief executive officer Nazlee Khalifah.
He said most Islamic banks were slowly moving towards socially-responsible financing in support of the government’s initiatives to pursue greater local energy-sustainability projects .
Affin Islamic is financing RM130 million, or 60 per cent, of the total RM214 million cost by Gading Kencana Development Sdn Bhd to build a large-scale solar photovoltaic (LSSPV) project in Bidor, Perak.
Nazlee said this marked a productive collaboration between Affin and Gading Kencana in strengthening the fundamentals and sustainability of the banking industry.
“Gading Kencana is one of the most efficient solar producers in the world and we look forward to more collaboration with the company,” he said at a signing ceremony here yesterday.
Gading Kencana managing director Datuk Muhammad Guntor Mansor Tobeng said the proposed photovoltaic project will generate 53.65 million KW/h annually and save 800,000 tonnes of carbon emissions.
He said the 95.52 hectare solar farm, which will create 304 hightech graduate jobs, was expected to be completed on May 28.
This would be the fastest construction time for a 30MW LSSPV in the region.
Muhammad Guntor said the renewable energy services company was looking to add to its landbank on the west coast for solar projects.