Maybank, DBS Bank, the World Bank Group’s International Finance Corporation (IFC), and Ditrolic Energy Holdings signed a memorandum of understanding in Singapore on October 26, to establish a working group to develop a financing framework for the US$6 billion Southern Johor Renewable Energy Corridor.

Ditrolic, a Malaysia-based renewable energy developer, is advancing the project towards contracting, licensing, permitting, and a final investment decision. The working group will address regulatory approvals, grid interconnection, electricity offtake, risk allocation, and financing structure.

In August, Ditrolic’s wholly owned Singapore unit, Southern Solar Alliance, received conditional approval from Singapore’s Energy Market Authority to import up to 600 megawatts of renewable electricity from Johor. The approval was part of a broader 900MW electricity trade approval process.

Ditrolic CEO Tham Chee Aun said close to 90% of the project’s capacity had attracted booking interest.

Wood Mackenzie identified a 9.25GW low-carbon electricity import pipeline for Singapore. Separately, two Malaysia-Singapore interconnections are being developed for cross-border electricity trade.

🔗 Source: The Edge Malaysia