UiTM Solar Power Dua Plans to Issue Green SRI Sukuk Worth MYR 100 Million

University Teknologi MARA’s (UiTM) subsidiary, UiTM Solar Power Dua (UiTM Solar 2) is planning to issue a proposed Green Sustainable and Responsible Investment (SRI) Sukuk of up to MYR 100 million to be used for its solar power plant projects, according to local media reports.

UiTM ultimately owns UiTM Energy & Facilities (UiTM Energy), which is the parent company of UiTM Solar 2. The latter was set up to develop and operate a 25MW solar power plant in Johor. Meanwhile, UiTM Energy currently operates a 50MW solar power plant in Pahang.

UiTM Solar 2’s proposed Sukuk has been assigned a preliminary rating of AA-IS by Malaysian Rating Corporation (MARC), with a Stable...