Malakoff Subsidiaries Secure PPA Extensions For 1,732MW Lumut Power Plants
KUALA LUMPUR, May 18 (Bernama) -- Malakoff Corporation Bhd’s subsidiaries, GB3 Sdn Bhd and Segari Energy Ventures Sdn Bhd (SEV), have signed power purchase agreements (PPAs) with Tenaga Nasional Bhd to extend the operations of two gas-fired power plants in Lumut, Perak.
The independent power producer said in a statement today that the agreements cover GB3’s 429-megawatt (MW) open-cycle gas turbine plant and SEV’s 1,303-MW combined-cycle gas turbine plant, which together provide 1,732 MW of generation capacity.
Group chief executive officer Syahrunizam Samsudin said the plants had supported the national grid with a consistent and reliable operating record over many years.
“Extending their operations is a practical and responsible step, as it allows proven gas-fired facilities to continue contributing the flexible, dispatchable capacity that the national grid requires, particularly during periods of strong demand, while making effective use of existing infrastructure in a cost-efficient manner,” he said.
The new agreements are part of extensions awarded under the Energy Commission’s Category 1 proposal for three gas-fired generation assets announced in January this year.
Commercial operations under the new contracts are scheduled to begin by Jan 1, 2027 for the GB3 plant and by July 1, 2027 for the SEV plant, both of which will expire on Dec 31, 2029.
Malakoff’s Perai power plant in Penang had earlier secured an extension through March 2030, with extended operations beginning on April 9, 2026.
-- BERNAMA