AmBank Group has extended RM102.40 million in financing facilities to Gajahsuria Power Sdn Bhd (GSP) to support the development of a 29.99 MWac solar project under the LSS5 programme in Kampung Gajah, Perak. The funding will primarily cover working capital requirements and overall project costs related to the construction, commissioning, and operation of the solar photovoltaic plant awarded by Suruhanjaya Tenaga.
GSP, incorporated on 15 January 2025, is a dedicated special purpose vehicle formed to manage the entire lifecycle of the project. Its responsibilities span development, financing, engineering, procurement, construction, installation, testing, commissioning, ownership, operations, and maintenance.
The project was awarded in December 2024 and is jointly owned by Sun Energy Ventures Sdn Bhd, Constant Energy Malaysia Holding Sdn Bhd (CEMH), and BayWa r.e. Energy Solutions Sdn Bhd. CEMH, the local arm of Constant Energy, leads project development and oversees operations and maintenance activities.
Constant Energy, headquartered in Bangkok, Thailand, is a well-established renewable energy developer and Independent Power Producer with a growing Southeast Asian portfolio. The company has more than 260 MW of contracted capacity and over 120 MWp of operating solar plants across Malaysia, Thailand, and Vietnam. Its involvement in Malaysia began in 2017 through the co-development of a 5 MWac solar plant in Tawau, Sabah under the LSS2 programme.
This facility has since evolved into one of Sabah’s most advanced large-scale solar installations, operating with modern sun-tracking technology and contributing to regional energy reliability.The new GSP project strengthens Constant Energy’s expanding portfolio of utility-scale solar plants in Malaysia. Valued at approximately RM128 million, the Kampung Gajah solar plant is expected to reach commercial operation by July 2027.
Once operational, it will help reduce Peninsular Malaysia’s reliance on fossil fuels while supporting local economic activity and contributing to national clean energy ambitions.Christopher Yap, Managing Director of Business Banking at AmBank Group, noted that the bank is pleased to support GSP in the delivery of this LSS5 project.
He highlighted that the financing underscores AmBank’s broader commitment to enabling sustainable infrastructure and advancing Malaysia’s shift toward a low-carbon economy. He also emphasised the importance of working alongside strong renewable energy partners such as the Constant Energy Group and its consortium.Franck Constant, CEO and Founder of Constant Energy, expressed appreciation for AmBank’s support.
He stated that the financing enables the LSS5 project to progress effectively and acknowledged the contributions of the Malaysian team at CEMH and the consortium partners. He emphasized that their collaborative approach, combined with strong local capabilities and a deep understanding of the market, reinforces their long-term commitment to Malaysia’s energy transition while expanding their renewable energy presence across Southeast Asia.
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