May 27 (Renewables Now) - Singapore-based OCBC Bank (SGX:O39) said Monday it had led a green syndicated loan extended to KBJ HECMY Sdn Bhd, the developer of a 30-MW solar photovoltaic (PV) farm in Malaysia.
The borrower, a joint venture between a unit of South Korea’s Hanwha group and Konsortium Berseri Jaya Sdn Bhd, will use the proceeds to partially finance the development of the solar farm in Bukit Keteri in Malaysia’s northwestern state of Perlis. Specific details on the loan arrangement have not been provided.
The project secured a 21-year power purchase agreement (PPA) with Malaysian utility Tenaga Nasional Bhd in the country’s solar tender in 2017. The solar farm is slated to begin commercial operations by the second quarter of 2020.