On June 25th, 2013, Standard Chartered announced that it is financing two solar projects in Malaysia.A Malaysian company sponsored by SunEdison, Inc., together with Malaysia-based Sun Energy Ventures have signed MYR 134 million (US$42 million) loan facilities for two solar projects (10MW and 5MW) in Malaysia with Standard Chartered. The 10 MW project, which is expected to be operational in August 2013, will be the largest single solar power plant to be implemented in Malaysia. These projects are SunEdison's first utility scale solar energy endeavour in Malaysia.Once both projects are operational, they are expected to generate over 370 million kilowatt hours of energy over 20 years - enough energy to power over 6,000 homes while offsetting approximately 12 million kilograms of carbon dioxide emissions every year."Working with an established finance partner like Standard Chartered is critical to success when entering a new market," said Pashupathy Gopalan, Managing Director - South Asia and Sub-Saharan Africa Operations for SunEdison."Commenting on the agreement, Brad Sterley, Global Head of Clean Energy Project and Export Finance for Standard Chartered said, "We are delighted to build on our experience as key debt providers in over 250 MW of successful solar projects, and play a key role in supporting SunEdison's strategic entry into the Malaysian solar market."

Sun Edison LLC provides solar energy services. It owns and operates power plants in North America. In addition, it offers solar-generated energy to commercial, government, and utility customers. The company has projects in Europe, Latin America, and the Middle East. Sun Edison LLC was founded in 2003 and is headquartered in Belmont, California.

Source: Standard Chartered