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TNB Eyes Overseas Power Assets

15/12/2015

Tenaga Nasional Berhad (TNB) is exploring several opportunities abroad, especially in the emerging economies in tandem with its growth aspirations, says the national electric utility corporation’s President/Chief Executive Officer Datuk Seri Ir. Azman Mohd.

The company’s sustainable and continued growth lie in both domestic and foreign expansion, he said explaining that when evaluating prospective acquisitions, commercial considerations would be emphasized above all factors so as to maximise shareholders value.

“It is also vital to us that we only enter into ventures close to the electricity business which we know best,” he said during TNB’s Annual General Meeting (AGM) here today.

Under TNB’s Domestic and Regional Champion (DRC) aspiration, 5,000MW (megawatt) of regional capacity would be added onto its asset list. The company’s current installed capacity stood at 10,818MW.

For the record, TNB had taken over the development of 2,000MW coal-fired power plant in Jimah, Negeri Sembilan (Project 3B) during the financial year ended 31 August 2015.

This would, among others complement the 1,010MW Manjung Unit IV coal-fired power plant (commissioned in April 2015) and the Prai 1,071MW gas-fired power plant (scheduled for completion in January 2016).

“All in all, we are excited at the prospect of having about 5,500MW of new generation capacity added to our fleet between 2015 and 2019,” stressed Ir. Azman. These new capacity is for the replacement of old and inefficient power plants as well as in preparation for the forecasted demand growth during the period.

To help support the DRC growth aspirations, TNB was focused on employee development via training which would also build a pool of talents or leaders and aid in the company’s succession planning.

“We see value in lending our resources to develop our country’s talent pool and believe we bear a responsibility to remain driven towards this.”
In upholding its responsibility in protecting and preserving the environment, TNB remains committed to grow its Renewable Energy (RE) portfolio, added Ir Azman.

Towards this objective, TNB is keen to participate in the upcoming Competitive Bidding exercise by Suruhanjaya Tenaga for new renewable generation capacity.



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