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4-Traders Homepage  >  Shares  >  BURSA MALAYSIA  >  Tenaga Nasional Bhd    TENA   MYL5347OO009

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Tenaga Nasional Bhd : signs supplemental PPA with Jimah East Power

08/26/2015 | 04:06pm US/Eastern

Tenaga Nasional Bhd (TNB) has signed a supplemental power purchase agreement (PPA) with Jimah East Power Sdn Bhd (JEP) following its RM46.98mil purchase of 1Malaysia Development Bhd’s 70% stake in the power plant.

TNB said on Wednesday the supplemental PPA has expected commercial operation dates of June 15, 2019 and Dec 15, 2019 respectively.

It governs the obligations of the parties to sell and purchase the daily available capacity and, to the extent despatched, the net electrical output generated for 25 years.

The signing of the supplemental PPA was a follow-up to the PPA for the development of a 2000MW coal fired power plant in Mukim Jimah known as Project 3B on July 22, 2014. The power plant is estimated to cost RM11.7bil.

“Certain commercial terms, dates and project parameters are required to be amended as a consequence to the changes required for the project, arising from the above acquisition,†it said.

(c) 2015 Fusion Media Limited. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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