Malaysia's Tenaga National signs PPA for power deal with 1MDB, Mitsui
Tenaga Nasional Bhd (TNB), the largest Electric utility company in Malaysia, has signed a power purchase agreement (PPA) with Jimah East Power Sdn Bhd, relating to a coal-fired power plant with a capacity of 2,000 MW in the state of Negeri Sembilan, Malaysia.
Jimah East Power Sdn Bhd is a joint venture (JV) between 1Malaysia Development Berhad (1MDB) and Mitsui & Co Ltd.
Under the agreement the JV will design, build, own, operate and maintain a RM11 billion (US$3,469 million) coal-fired electricity generating facility dubbed Track 3B with a total nominal capacity of 2,000MW to be located at Jimah in Port Dickson.
The contract governs the obligations of the parties to sell and purchase the daily available capacity, and to the extent despatched, the net electrical output generated by the facility. Tenaga did not disclose the value of the deal or the price to be paid for the power. The PPA is for a period of 25 years.
TNB has also announced that Jimah East executed a coal supply and transportation agreement with TNB Fuel Services Sdn Bhd to govern the supply of coal to the facility.
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