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

NEXT BLOCK ASIA Beyond Crypto

NEXT BLOCK ASIA + Fabulous Bangkok After-Party Bangkok, Thailand will host the 2-day NEXT BLOCK ASIA "Beyond Crypto" by Krypton Events and CoinAdvice on 25-26 June 2019 at the W Hotel. The conference will bring together experts from CRYPTO and BEYOND,...

Photo Release: EXIM Thailand Visits Deputy Governor of State Bank of Vietnam To Discuss Thai Investment Prospects in Vietnam

Mrs. Warangkana Wongkhaluang (second left), Senior Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), recently paid a visit to Mr. Doan Thai Son (center), Deputy Governor of State Bank of Vietnam in Hanoi to discuss monetary...

Photo Release: EXIM Thailand Visits Thai Ambassador to Hanoi Discussing Ways to Promote Thai-Vietnamese Trade and Investment

Mrs. Warangkana Wongkhaluang (second left), Senior Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), recently paid a courtesy visit to His Excellency Mr. Tanee Sangrat (center), Ambassador of Thailand to Vietnam and Miss...

TMB re-affirms its leadership position in the Thai banking industry by launching the first ever Multi Currency Account in Thailand allowing exporters to manage six major currencies in one account

TMB continues to develop digital solutions that truly meet customer's need, creating positive changes to customer's life, along with its Make THE Difference philosophy, to re-affirm its market leadership position. TMB today becomes the first bank in...

Fitch Rates EXIM#s USD300 Million Senior Notes Final #BBB+#

Fitch Ratings has assigned Export-Import Bank of Thailand's (EXIM, BBB+/Stable) USD300 million five-year senior unsecured notes a final rating of 'BBB+'. The notes were issued under the bank's USD1.5 billion medium-term note (MTN) programme. The...

Related Topics