KUALA LUMPUR: Petroliam Nasional Bhd’s (Petronas) indirect unit Pengerang Power Sdn Bhd has signed a 21-year power purchase agreement (PPA) to sell electricity to Tenaga Nasional Bhd
(TNB).
TNB told Bursa Malaysia on Thursday that Pengerang Power would design, construct, own, operate and maintain a co-generation facility with a nominal capacity of 1729MW in Pengerang, Johor Darul Takzim (“Facility”).
Petronas said in a statement the following day that this PPA, for the sale of electricity from a co-generation facility, was the first of its kind in Malaysia.
The co-generation plant is one of six associated facilities being developed within the Pengerang Integrated Complex (PIC). Apart from generating power, it will also produce steam for consumption within the PIC.
TNB said: “This PPA is the first of its kind as Pengerang Power co-generation facility will be selling to TNB 400MW of generating capacity and electrical energy scheduled to commence from the first scheduled commercial operation date of June 1, 2017, and an additional 200MW, scheduled to commence from the final scheduled commercial operation date of Jan 1, 2019, making the total generating capacity and electrical energy to be supplied to TNB to be 600M,”
The signing of the PPA will not have any effect on the issued and paid-up share capital and the substantial shareholders’ shareholdings of TNB and will have a neutral impact on the earnings of TNB over the term of the PPA.
TNB said Petronas, save for Tan Sri Leo Moggie, Datuk Seri Hashmuddin Mohammad and Datuk Seri Azman Mohd being the nominees of Minister of Finance Inc as well as Ahmad Farouk Mohamed being the nominee of Khazanah Nasional Bhd, none of the directors or major shareholders of TNB and/or persons connected with them has any interest, direct or indirect, in relation to the abovementioned PPA.
TNB shares gained 2 sen to close at RM14.10 with 14.08 million shares changing hands.
(TNB).TNB told Bursa Malaysia on Thursday that Pengerang Power would design, construct, own, operate and maintain a co-generation facility with a nominal capacity of 1729MW in Pengerang, Johor Darul Takzim (“Facility”).
Petronas said in a statement the following day that this PPA, for the sale of electricity from a co-generation facility, was the first of its kind in Malaysia.
The co-generation plant is one of six associated facilities being developed within the Pengerang Integrated Complex (PIC). Apart from generating power, it will also produce steam for consumption within the PIC.
TNB said: “This PPA is the first of its kind as Pengerang Power co-generation facility will be selling to TNB 400MW of generating capacity and electrical energy scheduled to commence from the first scheduled commercial operation date of June 1, 2017, and an additional 200MW, scheduled to commence from the final scheduled commercial operation date of Jan 1, 2019, making the total generating capacity and electrical energy to be supplied to TNB to be 600M,”
TNB said Petronas, save for Tan Sri Leo Moggie, Datuk Seri Hashmuddin Mohammad and Datuk Seri Azman Mohd being the nominees of Minister of Finance Inc as well as Ahmad Farouk Mohamed being the nominee of Khazanah Nasional Bhd, none of the directors or major shareholders of TNB and/or persons connected with them has any interest, direct or indirect, in relation to the abovementioned PPA.
TNB shares gained 2 sen to close at RM14.10 with 14.08 million shares changing hands.
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