KUALA LUMPUR: United Overseas Bank (M) Bhd (UOB Malaysia) has reiterated its commitment to help the country’s transition to cleaner energy by supporting power plants with lower environmental impact and financing natural gas and solar projects.
In a statement, UOB Malaysia said the bank is a co-financier in a Commodity Murabahah Term Financing-i facility for the recently-announced 1,200 megawatt combined-cycle gas turbine power plant in Pulau Indah, Selangor.
“Upon completion in 2024, the power plant is expected to meet the demand in the Klang Valley in a more sustainable manner because a natural gas power plant has higher energy efficiency and emits 50% to 60% less carbon dioxide per kilowatt-hour than a typical coal plant, ” it said.
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