TNB se­cures RM144mil fi­nanc­ing for so­lar project

The Star Malaysia - StarBiz - - News -

PETALING JAYA: Te­naga Na­sional Bhd (TNB) has se­cured RM144mil fi­nanc­ing for its sec­ond large-scale so­lar (LSS) project in Malaysia.

The power com­pany said its unit, TNB Bukit Se­lam­bau So­lar Sdn Bhd (TBSS), had reached fi­nan­cial close for the project with MUFG Bank (M) Bhd (for­merly Bank of Toky­oMit­subishi UFJ (M) Bhd).

The bank will pro­vide fund­ing and work­ing cap­i­tal re­quire­ments of up to RM144mil for the LSS project in Bukit Se­lam­bau, Kedah.

TBSS, which was set up as a spe­cial-pur­pose ve­hi­cle to un­der­take the LSS in Bukit Se­lam­bau, was awarded the project by the En­ergy Com­mis­sion through a com­pet­i­tive bid­ding.

A 21-year power pur­chase agree­ment had been inked be­tween TNB and TBSS for the project in March 2018.

The project is sched­uled to be com­pleted in the fourth quar­ter of 2020.

In a state­ment, TNB noted that the LSS would have a gen­er­a­tion ca­pac­ity of 30 megawatts (MW) with a di­rect cur­rent (DC) in­stall ca­pac­ity of 45MWp.

TNB’s first LSS is in Kuala Lan­gat, Se­lan­gor, which is cur­rently in op­er­a­tion. It has a gen­er­a­tion ca­pac­ity of 50MW with a DC in­stall ca­pac­ity of 78MWp.

“Both LSS projects re­in­force TNB’s as­pi­ra­tion and com­mit­ment to­wards the growth of re­new­able en­ergy in the coun­try,” it said.

The En­ergy, Sci­ence, Tech­nol­ogy, En­vi­ron­ment and Cli­mate Change Min­istry is tar­get­ing for 20% of the coun­try’s elec­tric­ity to be gen­er­ated from re­new­able sources by 2030, a sig­nif­i­cant in­crease from the cur­rent 2%.

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