Thursday 28 Mar 2024
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KUALA LUMPUR (Sept 6): Tenaga Nasional Bhd signed a 21-year power purchase agreement (PPA) with Southern Power Generation Sdn Bhd for a planned 1,440MW power plant in Pasir Gudang, Johor.

State-controlled utility Tenaga told Bursa Malaysia today that Southern Power was a 100%-owned subsidiary of SIPP Energy Sdn Bhd.

Under the PPA, Tenaga said Southern Power would construct, own, operate and maintain the gas-fired, combined-cycle power plant.

"The facility will consist of two (2) generating blocks, with each generating block having a capacity of 720MW and an expected commercial operation date of 1 January 2020.

"The PPA governs the obligations of the parties to sell and purchase the generating capacity, and to the extent despatched,the electrical energy generated by the facility. The PPA will be for a period of 21 years from the commercial operation date of the first generating block," Tenaga said.

At 11:17 a.m., Tenaga shares were traded unchanged at RM14.68, for a market value of RM82.8 billion. The stock saw 337,400 shares traded.

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