Malaysian PV project reaches FID

Mar 16, 2023 10:49 AM ET
  • Jetama Energy and also Symbior Solar is developing the plant in Sabah which is due online in 2023
Malaysian PV project reaches FID
Image: Unsplash/Jeremy Bezange

The developer of a 10MW solar project in Malaysia has actually reached last investment decision.

A joint venture of Jetama Energy and Symbior Solar is establishing the site in Labuan, Sabah in eastern Malaysia.

A Myr43m (EUR9.1 m) project finance facility has actually been offered by AmBank Islamic Berhad.

Finergreen acted as the exclusive economic consultant for Solar PV Power (SPP), the joint venture developing the site.

The project was awarded after Jetama and Symbior's joint bid entry under the 2nd round of the Malaysian Large Scale Solar program (LSS2).

SPP signed a 21-year power purchase agreement with Sabah Electricity (SESB), the regional utility firm running in Sabah and Labuan, in December 2021.

The credit score center will be made use of for the building and construction of the power plant, which is anticipated to be functional within the 2nd quarter of 2023.

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