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Saturday, May 25, 2024

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Ranhill Solar Ventures secures final ‘AA3/Stable’ rating on Sukuk Murabahah program of up to RM310 million (US$68.44 million)

MALAYSIA: Ranhill Solar Ventures has received a final ‘AA3/Stable’ rating from RAM on its Sukuk Murabahah program of up to RM310 million (US$68.44 million).

ISFI previously reported that Ranhill Solar Ventures, ultimately wholly owned by Ranhill Utilities, was set up to raise financing for two power projects and support general corporate purposes, including shareholder distributions. The two projects are Ranhill Solar I’s 50 MW greenfield solar photovoltaic plant in Bidor, Perak and Ranhill Powertron’s 190 MW combined-cycle gas turbine power plant at Kota Kinabalu Industrial Park, Sabah.

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