KUALA LUMPUR: Tenaga Nasional Bhd's (TNB) subsidiary has lodged a RM2 billion Islamic medium-term notes facility to finance the development of a hybrid hydro-floating solar project at Kenyir Lake, Terengganu.

The facility, known as the Asean Sustainability SRI Sukuk Wakalah, was lodged with the Securities Commission on Oct 30 by TI TNB Genco Solar Kenyir 1 Sdn Bhd.

TI TNB Genco is 70 per cent-owned by TNB Power Generation Sdn Bhd, a wholly owned subsidiary of TNB, while the remaining interest is held by Terengganu Incorporated Sdn Bhd through a joint venture arrangement.

The project involves the development of a 595-megawatt (MW) alternating current hybrid hydro-floating solar facility, supported by a 297MW/1,190 megawatt-hour battery energy storage system (BESS).