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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.

The 5 MWp power purchase agreement was signed with Muda Paper Mills Sdn Bhd, a subsidiary of Muda Holdings Berhad, listed on the Bursa Malaysia Securities Berhad since November 1984. According to Canadian Solar, Muda Paper is the largest industrial-grade paper producer in Malaysia. The project will be powered by 13,000 Canadian Solar KuMax modules. Once in operation, the plant is expected to generate approximately 6,700 MWh of solar electricity each year for 25 years. The Company expects the project to reach commercial operation by the end 2020.

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