Azmi & Associates is pleased to announce its role in facilitating the successful completion of Islamic financing facilities amounting to RM225 million for Uzma Kuala Muda Sdn Bhd, a wholly-owned subsidiary of Uzma Berhad.

The financing, extended by Affin Islamic Bank Berhad and Export-Import Bank of Malaysia Berhad (EXIM Bank), is designated for the development and construction of a 50-megawatt alternating current (MWac) large-scale solar photovoltaic (LSSPV) plant in Kedah.

This financing agreement is a significant milestone in Malaysia’s renewable energy sector, particularly under the government’s Large Scale Solar 4@MEnTARI (LSS4@MEnTARI) programme. The funds will be pivotal in advancing the construction of the solar plant, which spans 73.7 hectares and underscores Uzma Berhad’s unwavering commitment to sustainable energy and the reduction of its carbon footprint.

The transaction has also garnered international recognition, winning the “Best Syndicated Loan – Renewable Energy 2024” at The Asset Triple A Islamic Finance Awards by Asset Publishing and Research Ltd.

Led by the Banking Partner Ahmad Syahir Yahya, Azmi & Associates provided comprehensive legal advice to the syndicated financiers throughout the phases of the deal.

Azmi & Associates will continue to deliver award winning service with our legal expertise in navigating complex transactions and green initiatives.

Read more:

• https://www.nst.com.my/business/2023/06/922369/uzma-receives-rm225mil-loan-fund-50mw-solar-project
• https://www.theasset.com/awards/islamic-finance-2024-country-deals-15020805

Corporate Communications,
Azmi & Associates
21 August 2024