Info
Info
News Article

Ib Vogt Achieves Financial Close And Start Of Construction Of 116 MWp Solar PV Project In Malaysia

News

ib vogt announces successful financial closing and start of construction of Coara Marang Solar Project. The project of 116 Megawatts (MWp) has been developed, in consortium with its Malaysian project partner Coara Solar, under the third round of the Large Scale Solar (LSS3) scheme issued by Suruhanjaya Tenaga (Energy Commission of Malaysia) in 2019 as part of the government's efforts to increase the country's renewable energy mix from 2% to 20% by 2025.

In June 2020, the project signed a 21-year Power Purchase Agreement (PPA) with the country's largest electricity utility, Tenaga Nasional Berhad (TNB). It has now secured a senior debt facility from Malayan Banking Berhad (Maybank), one of the largest banks in Southeast Asia and a strong supporter of renewable energy projects.

The power plant located in Marang, Terengganu - in north-east of Peninsular Malaysia, comprising 245 hectares, will deploy high-class bifacial technology mounted on single-axis trackers, in order to achieve maximum energy production efficiency. Once operational in Q1, 2022, Coara Marang Solar Project will deliver circa 230 GWh of clean energy per year and avoid more than 170,000 tonnes of CO2 emissions per annum.

"We are pleased to announce this important milestone, which was made possible thanks to our experienced team and committed financing partner Maybank, as well as the support of local authorities. Malaysia is a market with huge potential for renewable energy and ib vogt is dedicated to support on meeting the country's renewable energy targets by delivering this important project as planned during these challenging times.", says Anton Milner, Managing Director of ib vogt GmbH.

Greencoat Renewables Announces First Transaction In Nordic Market
AEG Power Solutions Equips The Microgrid Laboratory Emulator Of Paderborn University
Going Green In Lancashire – Hundreds Of Houses Installed With Solar Panels In Ground-breaking Project
Driving Efficiency Through Flexible Solar Power Solutions
Ib Vogt Achieves Financial Close And Start Of Construction Of 116 MWp Solar PV Project In Malaysia
Winch Energy Closes Largest Mini Grid Financing Portfolio To Date
Sonnedix Acquires 150MW Utility Scale Project Located In Central Chile
Oakapple Renewable Energy Appoint Stuart Gentry To Head Business Development
The Smarter E South America Postponed To October 18-20, 2021
SUNfarming Secures EUR 10 Million In Fresh Money For Poland
Analysis Of UK Commercial Roof Space Shows Solar PV Film Can Achieve Net Zero Without Greenfield Sites
US Solar Fund To Acquire Up To 50% Of 200MWDC Mount Signal 2
International Solar Alliance Special Assembly Elects Dr Ajay Mathur As New Director General
BayWa R.e. And HeidelbergCement Sign First Solar Corporate PPA In Polish History
Leclanché Selected By ENERGODATA To Provide Battery Storage
SUNfarming Reaches Financial Close On Project Financing For 26 MWp PV Portfolio In Poland
SolarArise Commissions 75 MW Solar Plant In Uttar Pradesh
Solar Energy For Water Treatment: IBC SOLAR Helps Water Authority Become More Sustainable
Sonnedix Adds 40 MW Of Capacity To Its Portfolio In Chile
Luxcara And GE Renewable To Deliver 753 MW To Sweden With Single Onshore Wind Farm
VivoPower International PLC Announces Completion Of Electrical Works For 39 MWdc Molong Solar Farm
Sonnedix Brings Chile Closer To Meet Its Renewable Power Targets
Q CELLS Solar Modules Keeping The Lights On For Dutch Bulb Grower
SunBrush Mobil And Infinity Establish Service Base At Benban, Africa's Largest Solar Park

×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the Solar + Power Magazine, the Solar + Power Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification} Array
Live Event