Canadian Solar to Construct One of the Largest C&I Solar Rooftop Projects in Malaysia
Guelph, Canada – The solar company Canadian Solar announced that it has commenced construction on one of the largest commercial and industrial (C&I) rooftop solar projects in Malaysia, in collaboration with Antah Solar Sdn. Bhd. and Eleaps Sdn. Bhd. The project with a capacity of 5 megawatt peak (MWp) will span an area of over 26,000 m2, and is located in Penang, Malaysia.
DEG, or Deutsche Investitions- und Entwicklungsgesellschaft, a subsidiary of Germany's development bank KfW Group and one of the world's largest private sector development financiers, will provide the Company with a US$20 million long-term loan facility. This loan matures in 2024 and will be deployed across Canadian Solar's solar pipeline, including the Muda Paper C&I rooftop project.
"This transaction marks our first corporate solar PPA in Southeast Asia. We have secured close to 170 MWp of corporate PPAs across Southeast Asia and Australia since the beginning of 2020, partnering our C&I clients to reduce carbon emissions while cutting operational costs”, commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.
Source: IWR Online, 20 Aug 2020