View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
December 14, 2016

Scatec Solar joins local consortium to develop 200MW PV projects in Malaysia

European producer Scatec Solar has partnered with a consortium led by Malaysian holding company ItraMAS to develop 200MW photovoltaic (PV) projects in Malaysia worth approximately $300m.

By Lopamudra Roy

European producer Scatec Solar has partnered with a consortium led by Malaysian holding company ItraMAS to develop 200MW photovoltaic (PV) projects in Malaysia worth approximately $300m.

Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

The consortium has signed three 21-year power purchase agreements (PPA) with Malaysia's largest electricity utility, Tenaga Nasional Berhad (TNB).

Under the terms of the PPAs, the new partnership will develop three solar projects with a total power generation capacity of 200MW.

Scatec Solar's CEO Raymond Carlsen said: “This is a landmark opportunity to bring our wide-ranging expertise to realise the largest solar energy portfolio in South East Asia.

“For Scatec Solar and our partners, this is a stepping stone to enter one of the most dynamic and fast growing regions of the world.”

ItraMAS' chief executive officer (CEO) Choo Boo Lee added: “This is a significant achievement for Malaysia and the solar industry in the region as these projects will help develop local supply chains and uplift local communities.”

Headquartered in Kuala Lumpur, ItraMAS is the lead sponsor of the three solar projects. The three PV farms are located in Merchang in the north, Jasin in the south, and Gurun in the west of Peninsular Malaysia. They span over an area of more than 200 acres each.

Scatec Solar expects to invest approximately $60m through preference shares, partly convertible to a 49% equity ownership, in the three projects. The PPAs were signed on behalf of the local consortium, which includes two other companies from Malaysia, Maltech, and Cam Lite.

Expected to produce 285,000MWh of electricity every year, the three solar plants will be able to reduce 210,000t of carbon emissions annually.

Malaysian retail banking company CIMB will be responsible for arranging the non-recourse project debt financing for the three PV projects.

Related Companies

Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Power Technology