KUALA LUMPUR (Dec 15): Google will be buying power from a solar project in Gurun, Kedah, from a consortium led by Japan-based renewable energy developer Shizen Energy Group.
Shizen Energy has also achieved financial close with financing from United Overseas Bank for the 29.99-megawatt utility-scale solar project, the Japanese company said in a statement. The project is scheduled to begin commercial operations in 2027.
“We see Malaysia as a key market and aim to continue strengthening our leadership and expanding our presence in the region,” said Shizen International Inc chief executive officer Kawado Kenji.
The solar power plant is being developed, constructed, and owned by SM01 Sdn Bhd, in which Shizen Malaysia has 49% interest as the lead developer. Solarvest Holdings Bhd (KL:SLVEST) owns a 33% stake in the consortium, while HSS Engineers Bhd (KL:HSSEB) has the remaining 18%.
UOB Malaysia is acting as the mandated lead arranger and sole lender for the project finance facility.
Shizen Energy said the project will be delivered by a team of local and regional partners.
“This milestone demonstrates the strength of our collaboration with Solarvest and HSS, supported by the facilitation of government and state agencies throughout the process,” said Shizen Malaysia CEO Reza Ikram.
In Malaysia, Shizen Energy’s cumulative installed capacity stands at about 60 megawatt-peak, including rooftop solar projects for corporate clients such as Top Glove Corporation Bhd (KL:TOPGLOV) and major mushroom producer Hokto Malaysia Sdn Bhd.
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