MALAYSIAN Rating Corp Bhd (MARC) has assigned its preliminary AAIS rating on UiTM Solar Power Dua Sdn Bhd’s (UiTM Solar 2) proposed Green Sustainable and Responsible Investment (SRI) Sukuk of up to RM100 million, with a stable outlook.MARC in a statement today said the stable outlook is backed the company’s 21-year power purchase agreement with Tenaga Nasional Bhd (TNB) which mitigates offtaker risk. UiTM Solar 2 was set up to develop and operate a 25MW solar power plant in Pasir Gudang, Johor.
