KUALA LUMPUR (April 11): Tenaga Nasional Bhd (TNB) has signed a 21-year power purchase agreement (PPA) with Edra Energy Sdn Bhd to offtake electricity from a gas-fired combined cycle electricity generating facility that the latter will construct in Alor Gajah, Melaka. Edra Energy is a subsidiary of Edra Power Holdings Sdn Bhd, which previously belonged to 1Malaysia Development Bhd, under Edra Global Energy Bhd. In a stock exchange filing today, TNB said Edra Energy will own, operate and maintain the facility, which will have three generating blocks, with a combined nominal capacity of 2,242.131 megawatts (MW), or 747.377MW each. TNB said the PPA governs the obligation of both parties to sell and purchase the generating capacity and to the extent dispatch the electricity energy generated by the facility. The PPA will have a neutral impact on the earnings of TNB over the term of the agreement, it added.

Source: The Edge Markets April 11, 2017 10:30 UTC