Malaysia's IL Energy finds partner for 500-MW solar tender

Solar module. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.

July 29 (Renewables Now) - Malaysian solar power investor IL Energy Sdn Bhd has entered into a memorandum of understanding (MoU) with a unit of Hong Kong-based Shun Hing Group to jointly participate in the third round of Malaysia’s Large Scale Solar (LSS) programme.

Malaysian holding company Integrated Logistics Berhad (KLSE:ILB), IL Energy’s parent, said in a bourse filing last week that the partners would use IL Power Sdn Bhd as a joint venture (JV) to make their bid.

If their bid is successful, Shun Hing Overseas Investment Limited (SHOL) will hold a 30% equity stake in the JV company, while IL Energy will own the remaining 70%.

The third LSS round will award 500 MW of solar projects. The deadline for submissions under the request for proposals (RFP) is August 19, 2019.

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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