Tenaga Nasional Berhad’s (TNB) unit, TNB Northern Energy Berhad, has issued a RM 1.62 billion sukuk to finance the construction of a 1,071.43-MW combined cycle gas-fired power plant in Seberang Prai, Penang. The sukuk consists of 39 series with tenors ranging from 4 to 23 years; it is structured under the Shariah principles of Ijarah and Wakalah.
