KUALA LUMPUR: Solar Management (Seremban) Sdn Bhd has secured a RM247mil financing for its first large-scale solar farm project in Malaysia.
“We are the second company to secure financing for the 50MW solar farm project in the country,” said Solar Management director Tee Cheng Hua at a press conference on Tuesday.
The company has signed an agreement with Malaysia Building Society Bhd (MBSB) for the project financing of the solar farm.
MBSB will provide funding of up to RM247mil.
Solar Management is one of the seven successful bidders chosen by the Energy Commission for the large scale solar farm project.
Tee said the project will be located in Rembau, Negeri Sembilan spanning over 200 acres of land.
“The project is expected to complete by November next year,” he said.
The solar farm has secure a 21-year solar power purchase agreement with Tenaga Nasional Bhd .
Mattan Engineering Sdn Bhd has been appointed as the turnkey engineering, procurement, construction and commissioning or EPCC for the 50MW solar farm project.
Mattan would be working together with China Machinery Engineering Corp (CMEC) to supply material and equipment for the solar farm.
“We glad to have CMEC, which is one of China’s Fortune Global 500 companies China National Machinery Industry Corp (Sinomach), on board,” said Mattan executive chairman Levin Tan.