TotalEnergies and MK Land close financing for 30 MW solar project in Malaysia

It is expected to generate about 1.5 TWh of electricity over its lifetime.

TotalEnergies and MK Land Holdings Berhad have completed financial close for a 30 MWac (around 50 MWp) solar power plant in Kulim, Kedah, Malaysia.

Construction will begin after the Notice to Proceed is issued.

The project was awarded by the Malaysian Energy Commission in August 2023 under the Corporate Green Power Programme (CGPP) to a consortium comprising TotalEnergies (49%) and Solar Citra Sdn. Bhd. (51%), a subsidiary of MK Land Holdings Berhad.

The plant is expected to generate about 1.5 TWh of electricity over its lifetime, sold under 21-year Power Purchase Agreements to major industrial and technology customers in Malaysia.

The project will install around 80,000 solar panels across 115 acres and include a 132 kV loop-in-loop-out substation to support grid interconnection.

Financing for the project, totaling around $37m (MYR145m), was arranged with BNP Paribas Malaysia Berhad acting as the sole mandated lender.