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NewsTenaga development of a 1,000MW brownfield coal-fired power plant in Manjung, Perak.
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Tenaga development of a 1,000MW brownfield coal-fired power plant in Manjung, Perak.
by JF Wed 17 Jul 2013, 10:43
KUALA LUMPUR: Affin Research is maintaining its “Buy” call on Tenaga Nasional Bhd with a with a maintained target price of RM8.90 as the group had been selected as the preferred bidder in the recent competitive bidding for the development of a 1,000MW brownfield coal-fired power plant in Manjung, Perak.
“Maintain Buy on Tenaga, we are looking to review our target price pending third quarter 2013 results briefing tomorrow,” it said.
Affin said it is positive on the win as Tenaga had emerged as the front runner in the tender for Tract 3A as it was reported to have submmited a bid that was two sen/ kwh lower than 1MDB (the other bidder).
“Apparently, Tenaga put in a bid of 22.78 sen/ kwh whilst 1MDB put in a bid of 24.86 sen/ kwhm” it said.
It added the Manjung site will house an aggregate of 4,100 MW of coal-fired power generation capacity by 2017.
“This will bring Tenaga’s total capacity to 15,344MW by 2018, accounting for 58% of Peninsular Malaysia’s installed power generation capacity,” it said.
“Maintain Buy on Tenaga, we are looking to review our target price pending third quarter 2013 results briefing tomorrow,” it said.
Affin said it is positive on the win as Tenaga had emerged as the front runner in the tender for Tract 3A as it was reported to have submmited a bid that was two sen/ kwh lower than 1MDB (the other bidder).
“Apparently, Tenaga put in a bid of 22.78 sen/ kwh whilst 1MDB put in a bid of 24.86 sen/ kwhm” it said.
It added the Manjung site will house an aggregate of 4,100 MW of coal-fired power generation capacity by 2017.
“This will bring Tenaga’s total capacity to 15,344MW by 2018, accounting for 58% of Peninsular Malaysia’s installed power generation capacity,” it said.
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