JAKS Nibong Tebal Solar PV Plant

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The project involves the construction of a 50MW solar farm in the city of Nibong Tebal, in Penang, Malaysia. The project was among 10 awarded under package 2 in the fourth round of Large Scale Solar procurement in March 2021. Malaysia's Energy Commission Suruhanjaya Tenaga launched the tender with 2 categories - 10-30MW package 1 and 30-50MW package 2. The tariff bid price for package 2 was around M$0.1768 per kWh - M$0.1970 per kWh. The project company - JAKS Solar Nibong Tebal Sdn Bhd, is owned by the sponsor, Jaks Resources. The solar farm has a 21-year PPA with state-owned utility company Tenaga Nasional and is scheduled commercial operations is 2023. The total value of the project is MYR200 million ($47.66 million) and was financed on a debt-to-equity ratio of 77:23. AmBank Islamic and United Overseas Bank provided the bank loan. Financial close was achieved on 18 March, 2022. Realfin https://www.tnb.com.my/assets/newsclip/17032022b.pdf https://www.theedgemarkets.com/article/jaks-achieves-financial-close-lss4-project IJ: Malaysia solar achieves financial close