Malakoff Unit Sign Power Purchase Deals With Tenaga Nasional

MT Newswires Live05-19

Malakoff (KLSE:MALAKOF) units - GB3, and Segari Energy Ventures - signed new power purchase agreements with Tenaga Nasional (KLSE:TENAGA) to extend operations of their gas-fired power plants in Perak, Malaysia, according to a Monday Malaysian bourse filing.

Malakoff's shares slid 2% in Tuesday's late morning trade, while those of Tenaga Nasional were flat.

The deals cover the 429-megawatt open cycle gas turbine plant operated by GB3 and the 1,303-megawatt combined cycle gas turbine plant operated by SEV.

The GB3 plant is scheduled to begin operations under the new agreement by Jan. 1, 2027, while the SEV plant is set to start by July 1, 2027. Both agreements will expire on Dec. 31, 2029, it said.

The GB3 plant's original 21-year PPA expired in December 2022, while the SEV plant's initial 21-year agreement expired in June 2017 and was followed by a 10-year extension ending in June 2027, the filing said.

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