Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


Update Tenaga signs PPA with 1MDB, Mitsui for 2,000 MW power plant

Bursa Community :: Community News

Go down

Update Tenaga signs PPA with 1MDB, Mitsui for 2,000 MW power plant Empty Update Tenaga signs PPA with 1MDB, Mitsui for 2,000 MW power plant

Post by Cals Wed 23 Jul 2014, 01:33

Update Tenaga signs PPA with 1MDB, Mitsui for 2,000 MW power plant
Business & Markets 2014
Written by Shalini Kumar of theedgemalaysia.com   
Tuesday, 22 July 2014 18:01

KUALA LUMPUR (July 22): Tenaga Nasional Bhd has inked a power purchase agreement (PPA) today with Jimah East Power Sdn Bhd, which is jointly owned by 1Malaysia Development Bhd (1MDB) and Mitsui & Co Ltd.

In a Bursa Malaysia filing today, Tenaga said the PPA was for the proposed construction, operation and maintenance of a 2,000 MW coal-fired power plant in Port Dickson, Negeri Sembilan.

Tenaga said the PPA was a result of "the Track 3B competitive bidding organised by the Energy Commission to meet the generation requirements in Peninsular Malaysia at the most competitive rates".

"The PPA, which has expected commercial operation dates of Nov 15, 2018 and May 15, 2019 respectively, governs the obligations of the parties to sell and purchase the daily available capacity, and to the extent despatch, the net electrical output generated by the facility for a period of 25 years in accordance with the agreed terms and conditions," Tenaga said.

Jimah has also executed a coal supply and transportation agreement (CSTA) with TNB Fuel Services Sdn Bhd to govern the supply of coal to the plant.

"The CSTA shall be effective upon the date of execution and shall remain in force unless terminated earlier pursuant to the terms of the CSTA or upon the expiry or earlier termination of the PPA," Tenaga said.
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum