KUCHING: Sarawak Energy Bhd (SEB) has signed a power purchase agreement (PPA) term sheet with Malaysian Phosphate Additives (Sarawak) Sdn Bhd (MPA Sarawak) for the supply of 150MW of power.
Signing the agreement yesterday were SEB chief executive Datuk Torstein Dale Sjotveit and MPA Sarawak director Wu Sor Hwa.
According to SEB, the RM1.04bil investment by MPA Sarawak signifies robust demand for energy and positive market dynamics in Sarawak.
MPA Sarawak’s 500,000MT per annum phosphorus plant in Samalaju Industrial Park is the first of its kind in the nation and Asean.
The plant will manufacture food phosphates, animal feed phosphates and fertiliser phos-phates for use in local and export markets.
Sjotveit said SEB had created an avenue for foreign investors and local players to increase their presence through a reliable channel of renewable energy in Sarawak.
“The steady pace of investment shows investor confidence in the state.
“This is expected to contribute positively towards the state’s development and the economy of the country in the long run,” he said.
Commenting on the agreement, Wu said: “We look forward to grow and sustain this affiliation with the green energy powerhouse in Sarawak while expanding our business frontier.
“In the present era of technology, it is imperative that we keep ourselves aligned to a more efficient and effective source of energy while moving forward.”