Scatec Solar ASA and partners have achieved financial close for three solar PV power plants in Malaysia totaling 197MW.
Financing for the plants has been raised through a issuance of Green SRI Sukuk (Islamic bond) of MYR 1,000 million in nominal value (USD 237 million).
"We are very satisfied to reach this important milestone. Together with our partners, we have again demonstrated our wide-ranging expertise and we are now ready to build the largest solar energy portfolio in South East Asia", says Raymond Carlsen, CEO of Scatec Solar.
"This milestone marks a new beginning for Malaysia's renewable energy sector. The projects are envisaged to generate up to 3,000 local jobs and will generate electricity for up to 93,000 households per year", says Lee Choo Boo, Group Managing Director of ITRAMAS Corporation Sdn.
Mr. Lee further adds: "We appreciate the efforts made by Bank Negara Malaysia, the Securities Commission Malaysia and the World Bank Group in introducing the concept of the Green SRI Sukuk, as this made it possible to finance our project in a climate-friendly manner".