In addition to the third round of its Large-Scale Solar (LSS-3) tenders and introduction of the revised NEM scheme, Malaysia recently reinforced its commitment to reduce greenhouse gas (GHG) emissions 45% by 2030, highlighted Chor Jack, a partner with the law firm of Christopher & Lee Ong (CLO), a member firm of Rajah & Tann Asia. “We believe the G. A group led by a Singapore-based lender has revealed plans to finance a 30 MW solar project in northwestern Peninsular Malaysia. The companies did not disclose additional details about the financing package. Singapore-based OCBC Bank and a consortium of unnamed lenders in late May said they would provide financing for the 30-MW PV project, which is. Jack and CLO partner Christopher Lee have been involved in Malaysia's solar energy market and industry since the introduction of a feed-in-tariff (FiT) in 2011. Among others, they advised Scatec Solar ASA as co-sponsor and investor regarding the development of large-scale solar plants with a combined capacity of 150 MWac. Utility-scale and mid-tier. With the introduction of the revised, 500-MW NEM scheme, Malaysia's government appears committed to expanding the country's solar energy market by fostering growth of mid-tier C&I, as well as residential solar power capacity. A total 450-MW is allocated for C&I solar projects and 50 MW for residential installations. —Jack said in an interview. NEM,. Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin recently highlighted that Alternative forms of solar financing, such as solar PPAs and third-party solar leases, are now available in Malaysia as a result of the introduction of the new NEM scheme and the government's intention of “democratizing the market,” Jack point.
