Malaysian Strive towards Clean Energy, 116 MWp Solar Project Kicks Off

Malaysian solar developer Coara Solar has received financing and commenced the construction of 116 Megawatt peak (MWp) solar project at Marang, Terengganu - in north-east of Peninsular Malaysia.

February 08, 2021. By News Bureau

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Malaysian solar developer Coara Solar has received financing and commenced the construction of 116 Megawatt peak (MWp) solar project at Marang, Terengganu - in north-east of Peninsular Malaysia.

In this regard, the company has secured a senior debt facility from, a leading lender in Southeast Asia, Malayan Banking Berhad (Maybank).

In June last year, Susan Hemiming, Director of Coara Marang signed a 21-year Power Purchase Agreement (PPA) with Tenaga Nasional Berhad (TNB), Malaysia’s largest power utility.

Coara has been developing this project in partnership with its German partner Ibvogt under the third round of Large Scale Solar (LSS3) scheme issued by Suruhanjaya Tenaga (Energy Commission of Malaysia) in June, 2019.

The project is expected to boost the Malaysian Government's ambitious target to increase the country’s renewable energy mix from 2 per cent to 20 per cent by 2025.

To achieve maximum energy efficiency in production, the Coara Marang Solar Project, which spread over an area of 245 hectares, will be equipped with high-class bifacial technology mounted on single-axis trackers.

The project, which is expected to be operational in first quarter of 2022, will deliver circa 230 GWh of clean energy per year and avoid over 170,000 tonnes of carbon emissions per year.

Commenting on the commencement of the project, Herald Hemming, CEO of Coara Solar, said that, “We at Coara are thankful for the commitment and cooperation from the State Government of Terengganu and Terengganu SILICA Consortium Sdh Bhd for being very supportive and visionary for the expansion of large scale Solar Power plants in the region.”

The company said that the commencement of construction of the project has boosted local employment and will give local universities in the area the opportunity to learn and understand renewable energy from industry players like Coara Solar.

2012-founded Malaysian solar developer Coara Solar’s portfolio includes large scale solar plants development, design and engineering, EPC for Commercial & Industrial (C&I) solar roof projects with financial engineered solutions for PPA or solar leasing, operation & maintenance (O&M) and asset management.

 

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