KUALA LUMPUR, Jan 30 (Bernama) -- YTL PowerSeraya Pte Ltd, a wholly-owned subsidiary of YTL Power International Bhd, and TNB Power Generation Sdn Bhd (TNB Genco), a wholly-owned subsidiary of Tenaga Nasional Bhd (TNB), have jointly announced an agreement to export and import 100 megawatts (MW) of electricity from Malaysia to Singapore via a newly upgraded interconnector.
In a statement today, YTL PowerSeraya said it was awarded an electricity importer licence for Malaysia on a two-year trial by the Energy Market Authority of Singapore (EMA) after a competitive request for proposal process in October 2021.
It said the electricity would be purchased from TNB Pasir Gudang Energy Sdn Bhd, a wholly owned special vehicle company by TNB Genco.
“Both parties will work closely with the EMA and the (Malaysian) Energy Commission to refine all technical settings and regulatory arrangements under the Electricity Import Framework.
“The agreement will be effective upon fulfilment of conditions precedent,” YTL PowerSeraya said.
TNB Genco managing director Datuk Nor Azman Mufti said the agreement is a positive step for the strengthening of cross-border energy supply towards the realisation of a fully interconnected Asean power grid.
YTL PowerSeraya said the agreement marks the first time Malaysia would supply electricity to Singapore on a commercial basis, adhering to the Malaysian Energy Commission’s Guide for Cross-Border Electricity Sales.
It said the collaboration was made official at an exchange of documents ceremony for the cross-border electricity purchase agreement that was witnessed by International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz and Singapore’s Minister for Manpower and Second Minister for Trade and Industry Dr Tan See Leng.
Tengku Zafrul is in Singapore to accompany Prime Minister Datuk Seri Anwar Ibrahim on his first official visit to Singapore.
YTL PowerSeraya is the only party in Singapore with prior experience in cross-border power trade and financial settlements, having traded across the interconnector to supply electricity to TNB in Malaysia in 2011 and 2013.
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