MALAYSIA: UEM Group will be issuing a RM7 billion (US$1.51 billion) SRI Sukuk program under an SPV, UEM Olive Capital, from which the proceeds will be used to finance investments to be undertaken by its green investment arm, UEM Lestra, a media release read.
UEM Group will be developing a one-gigawatt hybrid solar photovoltaic (PV) power plant under Phase 1 of the National Energy Transition Roadmap.
ISFI previously reported that the PV power plant will be financed through Islamic finance instruments.