YTL Jawa Energy BV, unit of Malaysia’ YTL Power International Berhard, under YTL Corporation Berhard, plans to issue global SUKUK around US$2 billion in Malaysia. The company joins with PT Bakrie Power, unit of PT Bakrie & Brothers Tbk (BNBR), are the operator of Tanjung Jati A Steam Power Plant in Cirebon, Central Java.

The onshore SUKUK will be the first issuance which involves financing a major power project outside Malaysia. Both its expecting begin to construct the project in 2021 with total costs US$2.8 billion According to president director of the BNBR, Anindya Novan Bakrie, Bakrie Power owns 20% in the 2×660 megawatts’ project and majority is held by its Malaysian partner.