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Extension of Time for Submission of Applications for Solar PV Non-Individual Quota ≤ 425 kWp and Clarification on Financing Requirements at the Point of Application
 

Putrajaya, 6 February 2016

SEDA Malaysia wishes to inform that the deadline for submission of applications for Solar PV Non-Individual Quota is hereby extended from 5.00 p.m.,19 February to 5 p.m., 22 February 2016 due to overwhelming responses from eligible producers.  With this extension, applicants are expected to begin submitting their drafts from 19th February onwards upto 22nd February whereby invoices will be automatically generated upon hitting a ‘Submit’ button once drafts have reached the ‘100%’ completed status.  Applicants must remit payment of the admin charge (+GST) which is non-refundable, via credit card to ensure a spot in the balloting exercise.  For further info, please refer to the Submission of 2016 Solar PV (Non-Individual : ≤ 425 kWp) FiA applications for Balloting announcement or you may get in touch with SEDA officers during normal working hours.

With regards to Financing requirements, please refer to the table below for further clarity:

 

For Self-financed Projects

For Projects Financed via a loan from a financier / financing institution

At the point of application

Those proposing to self-finance their projects should show a minimum of 5% of the total capex in the applicant’s bank account and another 5% can be in other forms such as the shareholders’ bank accounts, related companies or properties, giving a total of 10% of the total capex cost.

For those with bank support letter, to show a minimum of 5% in the applicant’s bank account and another 5% can be in other forms for example, the shareholders’ bank accounts, related companies or properties, giving a total  of 10% of the total capex.

Upon successful balloting -before approval is granted

Need to show at least 75% of capex in any logical form as above with the assumption that the balance might be in the form of grants, soft loans, etc.

Must demonstrate ability to raise 20 % of the total capital expenditure, assuming 80 % will come from financing. Proof can be in the form of funds from shareholders, family members or related companies.

Failure to comply with the requirements given above may result in the applicant being excluded from the balloting exercise (disqualification).

Sustainable Energy Development Authority Malaysia

 
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