Tuaspring acquisition a timely addition for YTL

Bright lights: YTL Power has confirmed it completed the acquisition of the 396MW Tuaspring combined-cycle gas turbine power plant in Singapore. — Getty Images

PETALING JAYA: The acquisition of the Tuaspring power station by YTL Power International Bhd has expanded its Singapore generation capacity by 16.5%. The additional capacity, according to MIDF Research, comes at a good time with outlook on the Singapore power sector improving.

“Multi-utilities division earnings (of the group) are gaining strong traction from higher electricity prices in Singapore, and the Tuaspring addition could further underpin this trend,” it said in a report.