Genting said the handover marked the company’s strategy in moving away from further investments in coal-fired power projects.
PETALING JAYA: Genting Bhd
’s 49% owned indirect joint-venture company, SDIC Genting Meizhou Wan Electric Power Company Ltd (SDICG MZW), has handed over its 2x393MW subcritical coal-fired Meizhou Wan Power Plant (MZW Phase I), to Fujian Investment & Development Group Co Ltd on June 30.
In a statement, Genting said the handover marked the company’s strategy in moving away from further investments in coal-fired power projects, supporting its long-term commitment to building a cleaner, more sustainable energy portfolio.
The MZW Phase I has been operating since Jan 1, 2004 under a 21.5-year build-operate-transfer power purchase deal.
SDICG MZW will continue to own and operate the 2x1,000MW ultra supercritical coal-fired Meizhou Wan power plant (MZW Phase II) following the handover.
Notably, MZW Phase II has more advanced generation technology and has been complying with all relevant environmental regulatory requirements since it started operations in 2017.
Genting noted that while it will no longer pursue new coal-fired projects, it will continue to manage the operations of its existing coal-fired power assets responsibly until the end of their operational life.
“This prudent and balanced approach allows the company to manage its legacy assets responsibly,” the group said in a statement yesterday.
Aligned with this strategic direction, Genting’s power division remains focused on evaluating and identifying high-potential investment opportunities in the renewable and clean energy sectors that support the global energy transition.
This commitment is evidenced by recent developments under the power division, including the joint venture with SDIC Power Holdings Co Ltd in the 120MWp Dongwucha aquaculture-complementary solar power plant in China. Genting Bhd’s shares closed slightly higher at RM3.08 apiece yesterday.
