Tenaga Nasional Berhad’s wholly-owned unit, TNB Kuala Muda Solar Sdn Bhd (TNBKMS), has successfully raised RM1.05 billion through the issuance of Asean Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah.
In a filing with Bursa Malaysia, TNB said the proceeds raised from the sukuk issuance will support the development of a large-scale solar photovoltaic (LSS PV) project in Kuala Muda, Sungai Petani, Kedah.
The company said TNBKMS is responsible for undertaking the full scope of the project, including the design, engineering, procurement, construction, installation, testing and commissioning of the solar facility, as well as the ownership, operation and long-term maintenance of the plant and its related ancillary equipment and facilities.
The solar project will have an installed generation capacity of 500MWac, making it one of the key renewable energy initiatives under TNB’s sustainability and energy transition agenda.
According to the filing, the sukuk issuance was carried out in 17 tranches under the Asean Green SRI Sukuk Wakalah programme.
TNBKMS is a wholly-owned subsidiary of TNB Renewables Sdn Bhd, which is in turn fully owned by TNB.
The issuance reflects TNB’s continued commitment towards expanding its renewable energy portfolio and supporting Malaysia’s transition towards cleaner and more sustainable energy sources.
