Tadau Energy bags two Sukuk awards in UK
Published on: Thursday, March 22, 2018
Kuala Lumpur: Tadau Energy Sdn Bhd bagged two awards at the Climate Bonds Initiative's Annual Green Bond Pioneer Awards 2018 in London Tuesday. The company won the coveted New Products Broadening The Market - Green Sukuk and New Countries Taking Green Bonds Global - Malaysia categories, awards. The awards recognise pioneers in the development of green finance and green bond markets, as well as pioneering initiatives and issuances, that provide positive examples of climate resilience and low carbon investments the world over.
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"We are honoured to receive this recognition as the issuer of the world's first Green Sustainable Responsible Investment Sukuk (Green SRI). We will continue to build clean, green and sustainable projects globally," said Tadau Energy Managing Director, Susanna Lim in a joint statement with Affin Hwang Investment Bank Bhd (Affin Hwang Capital) on Wednesday. Tadau Energy, a developer for turnkey commercial solar energy projects, issued a RM250 million Sustainable Responsible Investment Sukuk on July 27 last year – the first of its kind globally.The sukuk is structured based on the Islamic principles of Istisna (construction finance) and Ijarah (leasing), and proceeds used to finance the construction of a 50-megawatt alternating current (MWAc) solar project in Sabah.Meanwhile, the company's Green Sukuk Framework was certified 1 by the Centre for International Climate and Environmental Research in Oslo, Norway.
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