Despite the challenging market conditions both in Malaysia and Singapore, YTL Corp said it remained positive that its property offerings across these markets would continue to draw buyers.
KUALA LUMPUR: Tenaga Nasional Bhd
says the 21-year power purchase agreement with YTL Power Generation Sdn Bhd has expired on Sept 30, 2015.
The power giant said on Monday that following the expiry of the PPA – which was signed on March 31, 1993 -- YTL no longer exports power to the grid effective from Oct 1, 2015.
“Concurrently, a leasing agreement which YTL entered into with Tenaga Nasional to lease the latter’s land in Pakka, Terengganu and Pasir Gudang, Johor to build its power stations was also affected,” said Tenaga.
Tenaga said the PPA was the first PPA signed between Tenaga and an independent power producer and the only PPA that was based on take-or-pay mechanism for 21 years.
The total capacity of the power station in Paka is 780 megawatts (MW), consisting of two blocks of 390MW combined-cycle gas fired generation facility. The capacity of the power station inPasir Gudang is 390MW.
Celebrate Merdeka with 50% Off!
T&C applies.
