StanChart provides financing for solar projects in Malaysia

Stocks and Financial Services Press Releases Thursday June 27, 2013 09:23
Bangkok--27 Jun--Asian Banker

Singapore, June 25th 2013 - Standard Chartered and a Malaysian company sponsored by SunEdison, Inc., together with Malaysia-based Sun Energy Ventures have signed MYR 134 million loan facilities for two solar projects (10MW and 5MW) in Malaysia. The 10 MW project, which is expected to be operational in August 2013, will be the largest single solar power plant to be implemented in Malaysia. These projects are SunEdison's first utility scale solar energy endeavour in Malaysia.

Once both projects are operational, they are expected to generate over 370 million kilowatt hours of energy over 20 years - enough energy to power over 6,000 homes while offsetting approximately 12 million kilograms of carbon dioxide emissions every year.

"Working with an established finance partner like Standard Chartered is critical to success when entering a new market," said Pashupathy Gopalan, Managing Director - South Asia and Sub-Saharan Africa Operations for SunEdison. "SunEdison is committed to making solar power an economically sound and universally available energy solution around the world. Being able to collaborate with companies like Standard Chartered who will share their knowledge of local regulations and financing structures enables us to achieve this goal."

Commenting on the agreement, Brad Sterley, Global Head of Clean Energy Project and Export Finance for Standard Chartered said, "We are delighted to build on our experience as key debt providers in over 250 MW of successful solar projects, and play a key role in supporting SunEdison's strategic entry into the Malaysian solar market. The agreement reiterates our commitment to renewable energy projects and clean technologies, and illustrates our expertise and intimate knowledge of our footprint markets of Asia, Africa and the Middle East."

This transaction highlighted Standard Chartered's ability to offer a wide array of services to support the client's growth agenda in Malaysia. The bank's roles include mandated lead arranger, lender, hedge provider, account bank, facility agent and security agent.

--www.theasianbanker.com (June 27 2013)--

Latest Press Release

FSS Launches a Risk-Based Authentication Solution to Bolster Security For Digital Transactions

FSS (Financial Software and Systems), a global payments technology company, has launched FSS Secure3D, its new-generation adaptive authentication solution based on the EMVCo 3DS 2.0 protocol. Globally, across regions, banks need to implement 3DS2.0...

PwC: Assets under management in Asia Pacific to rise to USD29.6 trillion by 2025, faster than any other region

The Asia Pacific (APAC) asset and wealth management industry is expected to be the centre for global Assets under management (AuM) growth in the coming years. According to the PwC report 'Asset and Wealth Management 2025: The Asia Awakening', APAC AuM...

OnMiners Mining Rigs Offering Market#s Fastest ROI

OnMiners S.A (http://www.onminers.com) is quickly making a strong impact in the crypto mining industry by offering the market's fastest return on investment. The company recently hit the headlines by introducing three multi-algorithm mining rigs that...

The Mall Groups Department Stores partner with SCB to offer sizzling promotions with a chance to win RIMOWA luggage

The Mall, Emporium, EmQuartier and Paragon Department Stores joined forces with SCB to hold "Made in Summer" campaign from today to 17 April 2019 to delight shoppers with superb promotions: shop to receive coupons with up to 40% discount; a chance to win...

Bangkok Bank InnoHub Season 2 showcases innovative technologies from eight finalists at Demo Day 2019

Bangkok Bank InnoHub, the first global FinTech accelerator in Thailand, has showcased innovations and real-use cases from the program's eight finalists to the public, potential investors and others in Thailand's innovation ecosystem on Demo Day. The...

Related Topics