YTL WILL NO LONGER EXPORT POWER TO TNB GRID

(Bernama) – The 21-year power purchase agreement (PPA) with YTL Power Generation Sdn Bhd has expired, said Tenaga Nasional Bhd (TNB).

In a statement today, TNB said following the expiry of the agreement, which was signed on March 31, 1993, YTL Power would no longer export power to its grid from October 1, 2015.

“Concurrently, a leasing agreement which YTL signed to lease the land in Paka, Terengganu and Pasir Gudang, Johor to build its power stations was also affected,” it said.

TNB said the agreement it signed with the independent power producer was the only PPA that was based on a take-or-pay mechanism for a period of 21 years.

It said the total capacity of the power station in Paka was 780 megawatt (MW), consisting of two blocks of 390MW combined-cycle gas fired generation facility.

The capacity of the power station in Pasir Gudang was 390MW consisting of one block of combined cycle gas-fired generating facility, it said.