Perak solar PV plant

active

The project comprises a loan facility to finance the development of a 29.99-MW solar PV farm in Bidor, Perak, Malaysia. The sponsor is Sand Town Solar Sdn Bhd (STS), a subsidiary of Kumpulan Gading Kencana Sdn Bhd (GKSB), and a special purpose vehicle of the project. The lender is Bank Islam Malaysia Berhad, which signed a financing agreement with STS for $19.32m or RM91.5 million on February 28th, 2024. The funds will be used to cover the development costs of the solar farm, including necessary capital expenses and refinancing the land. The electricity generated will be supplied to the national utility provider Tenaga Nasional Berhad under The New Enhanced Dispatch Arrangement (NEDA) mechanism, which allows electricity producers to sale to the utility without PPA and with competitive market pricing. https://www.pv-magazine.com/2024/03/06/malaysias-sand-town-solar-secures-financing-for-29-9-mw-of-solar/ ; https://www.bankislam.com/wp-content/uploads/MEDIA-RELEASE-BANK-ISLAM-AND-SAND-TOWN-SOLAR-SIGN-RM91.5-MILLION-FINANCING-AGREEMENT-FOR-SOLAR-PHOTOVOLTAIC-FARM-IN-PERAK.pdf https://www.pv-magazine.com/2024/03/06/malaysias-sand-town-solar-secures-financing-for-29-9-mw-of-solar/ ; https://www.bankislam.com/wp-content/uploads/MEDIA-RELEASE-BANK-ISLAM-AND-SAND-TOWN-SOLAR-SIGN-RM91.5-MILLION-FINANCING-AGREEMENT-FOR-SOLAR-PHOTOVOLTAIC-FARM-IN-PERAK.pdf