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TSH seals power deal with SESB
by hlk Wed 02 May 2012, 00:09
PETALING JAYA: TSH Resources Bhd has sealed a renewable energy power purchase agreement (PPA) with Sabah Electricity Sdn Bhd (SESB) to sell electricity at 30 sen per kWh for nine years.
It told the stock exchange that its wholly-owned subsidiary TSH Bio-Energy Sdn Bhd entered into the agreement on April 27.
TSH had initially signed a 21-year small renewable energy purchase agreement with SESB in 2002 for the sale of electricity generated from its power plant and dispatched to SESB’s Kalumpang sub-station at the rate of 21.25 sen per kWh.
It said that contract, which would have expired in 2024, would be replaced by the renewable energy PPA upon commencement of a feed-in tariff date to be agreed on by both parties.
The renewable energy PPA would not have any material impact on the company’s net asset and earnings for the financial year ending 2012 but is expected to contribute positively to future earnings.
It told the stock exchange that its wholly-owned subsidiary TSH Bio-Energy Sdn Bhd entered into the agreement on April 27.
TSH had initially signed a 21-year small renewable energy purchase agreement with SESB in 2002 for the sale of electricity generated from its power plant and dispatched to SESB’s Kalumpang sub-station at the rate of 21.25 sen per kWh.
It said that contract, which would have expired in 2024, would be replaced by the renewable energy PPA upon commencement of a feed-in tariff date to be agreed on by both parties.
The renewable energy PPA would not have any material impact on the company’s net asset and earnings for the financial year ending 2012 but is expected to contribute positively to future earnings.
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