OCBC Bank leads financing of 30-MW solar farm in Malaysia

Source: EBRD (www.ebrd.com)

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.

More stories to explore
Share this story
About the author

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.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription