Banking facilities of up to RM33.5 million by OCBC Bank (Malaysia) Berhad to SDK Power Sdn. Bhd.
Advised OCBC Bank (Malaysia) Berhad, as the lender (“Bank”) in respect of banking facilities consisting of a term loan facility and hedging facilities of up to RM33.5 million (“Facilities”) granted to SDK Power Sdn. Bhd. as the borrower (“Borrower”). The Borrower is a subsidiary of Baywa R.E. Solar Pte. Ltd. and Sun Energy Ventures Sdn. Bhd. The funds from the Facilities will be utilised to, among other things, finance the Borrower’s costs for the proposed development, construction, operation and maintenance of a large scale solar (“LSS”) photovoltaic energy generating plant with a capacity of 10MWac in Sandakan, Sabah.
The project is the first LSS plant in Sandakan, Sabah, and also the largest solar power plant in Sandakan.
Advising the Bank were Partner Kelvin Loh and Senior Associate Wong Yen Yen.