TNB SECURES RM144M FINANCING
Facility scheduled to be ready end-2020 and will have 30MW generation capacity
TENAGA Nasional Bhd (TNB) has secured RM144 million financing for its second largescale solar (LSS) project in Bukit Selambau, Kuala Muda, Kedah.
TNB’s wholly-owned TNB Bukit Selambau Solar Sdn Bhd (TBSS) and MUFG Bank (Malaysia) Bhd, recently achieved “financial close” for financing the project.
The bank will be providing funding and working capital requirements of up to RM144 million for the LSS project.
TBSS was set up as a special purpose vehicle to undertake the project, awarded by the Energy Commission through a competitive bidding exercise.
TNB and TBSS inked a 21-year power purchase agreement for the project in March last year.
It is scheduled to be completed in the fourth quarter of 2020.
The LSS has a generation capacity of 30 megawatt (MW) with DC install capacity of 45MWp (megawatt peak).
The national utility corporation’s first LSS in Kuala Langat, Selangor, has a generation capacity of 50MW with DC install capacity of 78MWp.
Both LSS projects reinforce TNB’s aspiration and commitment to the growth of renewable energy in the country.
Energy, Science, Technology, Environment and Climate Change Ministry has set a target of 20 per cent of the country’s electricity to be generated from renewable sources by 2030, an increase from two per cent now.