116MWp ib vogt solar farm begins construction following financial close

now viewing

116MWp ib vogt solar farm begins construction following financial close

January 28, 2021 Anand Gupta

now playing

GoodWe Named Among 2024 Forbes China Go-International Series Top 30 Brands - EQ

January 28, 2021 Anand Gupta

GERC – (Forecasting, Scheduling, Deviation Settlement and Related Matters of Solar and Wind Generation Sources) Regulations, 2019 – NOTIFICATION No. 1 of 2019

now playing

In the matter of the GERC (Terms and Conditions of Intra-State Open Access) Regulations, as adopted in the State of Gujarat - EQ

January 28, 2021 Anand Gupta

UPERC seeking withdrawl of huge liabilities wrongfully imposed on petitioner for five months and two days

now playing

In the Matter of Standard Operating Procedure issued by Ministry of Coal, constitute a 'Change in Law' - EQ

January 28, 2021 Anand Gupta

Indian Oil Floats Tender For 130 KWp On Grid Roof Mounted Captive Solar Power Project

now playing

IndianOil issue Tender for DESITC of Grid Interactive Solar PV System (Without Battery Backup) and SITC of Grid Interactive Inverter at various RCP Locations under WRPL in Group 1 - EQ

January 28, 2021 Anand Gupta

now playing

Vedanta Resources accepts bids worth $800 million for dollar bonds, bankers say - EQ

January 28, 2021 Anand Gupta

now playing

NTPC Green Energy and CSPGCL to develop 2,000 MW renewable energy projects in Chhattisgarh - EQ

January 28, 2021 Anand Gupta

Adani Green Energy ranked first in Asia and among top 10 for renewable energy companies globally for ESG performance

now playing

Adani Green Energy Clarifies on TotalEnergies Statement - EQ

January 28, 2021 Anand Gupta

Are solar and wind the cheapest forms of energy And other FAQs about renewables

now playing

APM Terminals Pipavav signs 25-yr pact with CleanMax to source power - EQ

January 28, 2021 Anand Gupta

Petronas, GIC to invest in green ammonia project in India

now playing

Hygenco Partners with Danish Firm Topsoe as Licensor for its Green Ammonia Plant - EQ

January 28, 2021 Anand Gupta

Bengaluru Namma Metro looks to amp up solar power generation to run trains

now playing

Kolkata Metro takes green step, launches rooftop solar plant in Tollygunge to reduce carbon footprint - EQ

January 28, 2021 Anand Gupta

Senior debt financing has been secured for the 116MWp Coara Marang solar farm being developed by Germany-headquartered ib vogt and Malaysian solar firm Coara Solar.

This finance comes in the form of a senior debt facility from Malayan Banking Berhad, with the project having also signed a 21-year Power Purchase Agreement (PPA) with Malaysian electricity utility Tenaga Nasional Berhad.

Construction on Coara Marang has now begun, with the solar farm – which is to use bifacial technology mounted on single-axis trackers – set to deliver circa 230GWh of clean energy a year once operational in Q1 2022.

It was developed under the third round of the Large Scale Solar scheme issued by the Energy Commission of Malaysia in February 2019. The tender was specifically for 500MWac of grid-connected large-scale solar projects to be developed on Peninsular Malaysia and was designed to help support ambitions to increase the country’s renewable energy mix from 2% to 20% by 2025.

Anton Milner, managing director of ib vogt, described Malaysia as a “market with huge potential for renewable energy”, with ib vogt being “dedicated” to supporting the country’s renewable energy targets by “delivering this important project as planned during these challenging times”.

Ib vogt is currently pursuing a global pipeline of solar projects that exceeds 16GW, announcing last year it had closed a €135 million (US$160 million) commitment from funds managed by EIG Global Energy Partners to help it pursue this.

The year also saw the company sell its shareholding in its 64.1MWp ‘Infinity 50’ project, which makes up part of the Benban solar complex in Egypt, to Masdar.