Press Releases
Displaying 1-9 of 9 results.
Wednesday, Apr 27, 2022
MARC Ratings has extended its MARCWatch Negative placement on UiTM Solar Power Sdn Bhd’s (UiTM Solar) outstanding RM202.3 million Green SRI Sukuk. The previous placement was made on January 28, 2022, due to the uncertain timing and implementation risk involved in restoring operations at its plant following unexpected damages to its gas-insulated switchgear (GIS) and power transformer.The extensi...

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Friday, Jan 28, 2022
MARC Ratings has placed its rating of AA-IS on UiTM Solar Power Sdn Bhd’s (UiTM Solar) outstanding RM202.3 million Green SRI Sukuk on MARCWatch Negative. UiTM Solar owns and operates a 50MW solar plant in Gambang, Pahang. The rating agency had on November 26, 2021, highlighted that the plant became non-operational due to unexpected damage of its gas-insulated switchgear and power transformer.The...

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Friday, Nov 26, 2021
MARC has been informed that UiTM Solar Power Sdn Bhd’s (UiTM Solar) 50MWac solar photovoltaic plant in Gambang, Pahang had experienced technical issues at its gas-insulated switchgear (GIS) and power transformer. The events have led to the plant currently being non-operational. UiTM Solar’s rating was affirmed at AA-IS/stable during the latest review in August 2021. The investigation into...

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Thursday, Aug 26, 2021
MARC has affirmed its AA-IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) outstanding Green Sustainable and Responsible Investment (SRI) Sukuk of RM202.3 million. The rating outlook is stable. UiTM Solar owns a 50MWac solar photovoltaic plant in Gambang, Pahang which was developed under a 21-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB) and became operational in ...

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Friday, Sep 18, 2020
MARC has affirmed its AA-IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) Green Sustainable and Responsible Investment (SRI) Sukuk of up to RM240.0 million. The rating outlook is stable. The rating is mainly driven by UiTM Solar’s 21-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB) under which the demand risk is largely eliminated as the national power company wil...

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Monday, Dec 09, 2019
MARC has affirmed its AA-IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) Green Sustainable and Responsible Investment (SRI) Sukuk of up to RM240.0 million. The rating outlook is stable. The affirmed rating is mainly driven by UiTM Solar’s 21-year power purchase agreement with Tenaga Nasional Berhad (TNB) under which the demand risk is largely eliminated as the national power company...

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Wednesday, Jan 09, 2019
MARC has affirmed its AA-IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) Green SRI Sukuk of up to RM240.0 million. The outlook on the rating is stable. UiTM Solar is the project owner of a greenfield solar power plant with a capacity of 50MWac in Gambang, Pahang. The project is 94.0% completed as at November 7, 2018, according to the independent consulting engineer and is expected to ...

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Tuesday, Apr 24, 2018
MARC has assigned a final rating of AA-IS to UiTM Solar Power Sdn Bhd’s (UiTM Solar) Green SRI Sukuk of up to RM240.0 million. The outlook on the rating is stable. Upon review of the final documentation of the issuance, MARC is satisfied that the terms and conditions of the Green SRI Sukuk have not changed in any material way from the draft documentation on which the earlier preliminary rati...

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Tuesday, Mar 20, 2018
MARC has assigned a preliminary rating of AA-IS to UiTM Solar Power Sdn Bhd’s (UiTM Solar) proposed Green SRI Sukuk of up to RM240.0 million. The outlook on the rating is stable. UiTM Solar is 98% owned by UiTM Energy & Facilities Sdn Bhd (UiTM Energy), a wholly-owned subsidiary of UiTM Holdings Sdn Bhd (UHSB) which in turn is wholly owned by Universiti Teknologi Mara (UiTM), a higher l...

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