TNB bags $35.10m for 30MW solar project

It reached financial close with MUFG Bank Malaysia.

Malaysian utility Tenaga Nasional Berhad (TNB) bagged $35.10m (RM144m) to finance its second large scale solar project in Kedah, Malaysia which has a generation capacity of 30MW and DC install capacity of 45MWp.

According to an announcement, TNB subsidiary Bukit Selambau Solar Sdn. Bhd. (TBSS) as well as MUFG Bank (Malaysia) Berhad achieved financial close for the project.

TBSS, a special purpose vehicle (SPV), was awarded the project by Malaysia’s Energy Commission through a competitive bidding exercise.

TNB and TBSS also signed a 21-year power purchase agreement (PPA) for the project in March 2018. The solar project will be completed by the fourth quarter of 2020.