Scatec Solar ASA, headquartered in Oslo, Norway announced on December 13 that it has won a 40 MW DC (30 MW AC) PV project in a tender held by the Energy Commission in Malaysia.
The power plant, located in the state of Perak in Northwest Malaysia, is expected to deliver 65 GWh of electricity per year with annual revenues of approximately USD 6 million. Work has started to secure project finance from commercial banks in Malaysia and capex is estimated to USD 50 million.
Scatec Solar will be an equity partner, turn-key EPC provider and provide Operation & Maintenance as well as Asset Management services to the power plant. Construction start is expected in 2H 2018 with grid connection in second half of 2019.
The project will be realized together with Fumase, a US- and Malaysia-based asset management and development company focused on renewable energy in South and Southeast Asia.
CEO Raymond Carlsen said:
“Malaysia is an attractive solar market, and our success in this tender showcases our ability to develop competitive projects in the country, and further highlights Scatec Solar’s position as a leading PV player in Southeast Asia.”
Source: Press Release by Scatec Solar. Photo Credits: CC0 1.0.