StanChart financing huge Malaysian solar projects

Projects will generate 370 million kWh over 20 years.

Standard Chartered PLC and two Malaysian firms have signed US$42 million loan facility for a 10MW and a 5MW solar power project in Malaysia. StanChart’s partners are a Malaysian company sponsored by SunEdison, Inc. and Malaysia-based Sun Energy Ventures.

The 10 MW project, which is expected to be operational this August, will be the largest single solar power plant to be implemented in Malaysia. These projects are SunEdison's first utility scale solar energy endeavor in Malaysia.

Both projects are expected to generate over 370 million kWh of energy over 20 years or enough energy to power over 6,000 homes while offsetting approximately 12 million kilograms of carbon dioxide emissions every year.