On November 6, 2026, at the 9th China International Import Expo, Standard Chartered Bank and China Construction Bank Malaysia Limited jointly completed the financing landing, and China Energy Engineering Corporation's two large-scale photovoltaic power plants under the LSS5+framework in Malaysia officially entered the implementation stage. This is also the first new energy project that the company has substantially promoted as an investor overseas, marking a crucial step in its overseas business model from single project contracting to integrated investment, financing, construction, and operation.

1999.8MW Joint Venture Project

Both power stations are located in Setiu, Terengganu, Malaysia, with a single AC side installed capacity of 99.99 MW and a total scale of 1999.8 MW. The total investment of the project exceeds 1 billion RMB. China Electric Engineering International Corporation and JSPH platform, a subsidiary of Malaysia's Jieshuo Company, jointly developed the project. Both parties hold 49% and 51% equity respectively in the project company, and set up separate SPV entities for the development, construction, and long-term operation of the two power stations.

The pace of project progress is interrelated. In March 2026, both parties signed a shareholder agreement, and in May, China Electric Engineering International Company and a local consortium officially signed an EPC general contracting contract, corresponding to a DC side installed capacity of 280MWp. In November, the entire financing loop was completed at the CIIE site, and the project officially entered the on-site implementation stage from the early preparation stage. At the financing level, Standard Chartered Group serves as the lead and coordinating bank for financing, while China Construction Bank Malaysia Limited serves as the joint lead bank for financing. The two banks jointly provide full cycle financial support for the project.

The national photovoltaic plan has entered its peak construction period

The LSS5+project belongs to Malaysia's fifth round of large-scale solar photovoltaic enhanced version plan, with a total AC side quota of 2000MW, and ultimately awarded 1975MW, divided into 13 projects. During the bidding phase, the total bidding capacity in the market reached 4073MW, nearly twice the quota size, and it is expected to attract an overall investment of RM6 billion to RM8 billion. Keywords: photovoltaic plan, new energy news

The entire LSS5+plan is currently shifting from the award phase to the construction and grid connection phase. The first batch of projects are aimed at grid connection by mid-2027, with most projects concentrated in the first quarter of 2028. The project implemented by China Electric Power Engineering is the first benchmark sample promoted by Chinese energy enterprises as investors in this plan, and also marks the official shift of China's overseas new energy development from traditional project delivery to a full chain deep participation mode covering investment, construction, and long-term operation.Editor/Cheng Liting