Ib vogt APAC Secures MYR248.5 Million with AmBank for Twin Solar Projects in Kedah, Malaysia
Kuala Lumpur, Malaysia, 28/05/2025
International renewable energy developer ib vogt is pleased to announce the financial close of two solar farms located in Kedah, Malaysia.
Under Malaysia’s Corporate Green Power Programme (CGPP), with a capacity of 29.99 MW each, both projects will collectively prevent over 100,000 C02 emissions yearly, a significant step forward for Malaysia’s transition to clean energy. Slated for completion in 2026, the projects will contribute directly to Malaysia’s net zero ambitions.
The lender involved in financing this milestone is AmBank Group, a leading financial services group in Malaysia. The total debt raised amounts to an estimated MYR248.5 million and will go to supporting the construction of both projects and accelerate Malaysia’s power transition to net-zero.
David Ludwig, CEO of ib vogt APAC states “We are proud to be partnering with AmBank to be the first to announce financial close on two CGPP projects. This was a collective effort, and this financing is crucial in supporting the overarching energy transition goal of Malaysia.”
This milestone underscores both the growing momentum behind Malaysia’s CGPP and the increasing alignment between financial institutions and renewable energy development. As demand for corporate clean power grows, ib vogt remains committed to delivering impactful, bankable solar projects across Asia and beyond.
Through projects like these, ib vogt continues to play a pivotal role in powering the energy transition, delivering clean, reliable energy where it’s needed most.
About ib vogt
ib vogt is firmly committed to supporting the decarbonisation of the global electricity sector. The company focuses on the global development of turnkey PV plants and battery storage projects as well as the expansion of its IPP portfolio. In these areas, the company performs all integral services of the value chain from development, financing, EPC to O&M and asset management.
Ib vogt APAC is headquartered in Singapore and has been active in Asia since 2012. It has established various subsidiaries across Asia-Pacific and is present in 10 markets. The company works together with numerous partners in the region augmenting its in-house team of over 150 staff in APAC and is supported by more than 1,000 industry experts worldwide. ib vogt has built or has in construction more than 4.7 GW of PV power plants globally with a project pipeline of more than 55 GWp with 10 GW in Asia.
For more information on ib vogt, visit www.ibvogt.com
ib vogt (Singapore) Pte Ltd · 111A Telok Ayer Street · Singapore · Phone: +65 6995 0010
E-mail: info@ibvogt.com · Web: www.ibvogt.com
Press contact: press@ibvogt.com
About AmBank Group
AmBank Group is a leading financial services group with over 40 years of expertise in supporting the economic development of Malaysia. We have over three million customers and employ over 8,000 people.
The Group was listed on the Main Market of Bursa Malaysia in 1988. It is the sixth-largest banking group by assets in Malaysia, with a market capitalisation of more than RM13 billion as of 31 March 2024.
AmBank Group serves over three million individual and corporate customers. It provides services in wholesale banking, retail banking, business banking, investment banking and related financial services which include Islamic banking, underwriting of general insurance, life insurance, family takaful, stock and share broking, futures broking, investment advisory and asset management services in unit trusts and real estate investment trusts.
For more information, please visit www.ambankgroup.com
For further information, please contact Ridzuan Zulkifli, Senior Vice President, Group Corporate Communications and Marketing, AmBank Group at ridzuan.zulkifli@ambankgroup.com and the Media Relations team at media.relations@ambankgroup.com