style="text-transform: uppercase;">Kuala Lumpur: Tenaga Nasional Bhd (TNB) has secured RM339 million financing for its first large-scale solar (LSS) project in Malaysia, located on a 97-hectare site in Mukim Tanjung 12, Kuala Langat, Selangor.The national utility corporation, through its wholly-owned subsidiary, TNB Sepang Solar Sdn Bhd (TSS), has together with Affin Islamic Bank Bhd achieved Financial Close for financing the project.

"The bank will be providing funding and working capital requirements for the project of up to RM339 million," said TNB in a statement here, yesterday.

TNB Vice President (Energy Ventures), Datuk Nor Azman Mufti described the project as a booster to TNB's aspiration in championing renewable energy (RE) in Malaysia.

"As many utility companies around the world are shifting towards RE, TNB also aspires to be the ASEAN leader in RE by 2025," he said.

Affin Bank Managing Director/Chief Executive Officer, Kamarul Ariffin Mohd Jamil said, "Affin Bank Group is proud to be partnering with TNB and TSS in embracing the Government's initiatives to pursue greater energy sustainability project."

The solar power purchase agreement (SPPA) for the project was inked in early March 2017 between TNB and TSS.

The latter, set up as a special purpose vehicle to undertake the project, was awarded the project by the Energy Commission through a competitive bidding exercise.

Under the 21-year SPPA, TSS will supply electricity to TNB, through the national grid from the 50-megawatt LSS project which will begin its commercial operation in November 2018.

Once completed, the LSS project will be Malaysia's largest solar farm. – Bernama