Friday, December 2, 2011

MMC's Tanjung Bin seals 25-yr power purchase deal with Tenaga

KUALA LUMPUR (Dec 2): MMC CORPORATION BHD []'s Tanjung Bin Energy Sdn Bhd has sealed a power purchase agreement (PPA) with TENAGA NASIONAL BHD [] to supply electricity over 25 years.

MMC said Tanjung Bin ' a unit of its 51% owned Malakoff Corporation ' had on Friday signed the PPA to supply power from its 1,000 MW coal-fired power plant in Tanjung Bin, Johor. The expected commercial operation date was March 1, 2016.

They also signed a coal supply and transportation agreement with TNB Fuel Services Sdn Bhd for the supply of coal to be used by Tanjung Bin Energy.

On Oct 14, Tanjung Bin Energy had received the Department of Environment's approval for the project's detailed environmental impact assessment.

"The PPA and coal supply and transportation agreement are expected to contribute positively to the earnings and net assets of the company from financial year ending 2016 onwards,' said MMC.

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