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13.12.2017 08:30
Scatec Solar secures a 40 MW PV project in Malaysia
Oslo, December 13, 2017: Scatec Solar ASA (SSO) and partners have 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.
"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", says CEO Raymond Carlsen.