Ahad, 9 Mac 2014

EC Announced 1MDB Wins RM11B 2000MW Coal Power Plant Deal

1Malaysia Development Board (1MDB) has officially clinched the RM11 billion 2,000 megawatt power plant project coded Track 3B, beating close competition from YTL Power International.
According to the Energy Commission (EC), the 1Malaysia Development Berhad–Mitsui Co Ltd consortium would receive a 25-year concession period for the coal-fired power plant which will be built in Jimah, Negeri Sembilan.
The levelised tariff for the concession is 25.33 sen/kWh, to be commissioned in two stages — by Oct 1, 2018 and April 1, 2019.
In a statement today, the EC said that the 1MDB-Mitsui consortium will be required to sign a new power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB) and a coal supply and transportation agreement (CSTA) with TNB Fuel Services Sdn. Bhd. based on terms and conditions stipulated by the commission.
The commission added that that the winning bid was chosen based on the criteria of full compliance with all the bid requirements as stipulated in the Request For Proposal (RFP) document and the lowest levelised tariff offered.
“The proposed coal-fired power plant will consist of two units of IHI ultra-supercritical technology steam generator and two units of Toshiba turbo generator with proven operational track records,” said the EC. “The proposed plant will incorporate the latest emissions control technologies to meet the environmental requirements, as well as reduction in coal consumption for every unit of energy generated.”
Track 3B will be developed to meet power requirements in Peninsular Malaysia from 2018 onwards based on EC’s demand projections.
Edging out YTL Power
Clinching the project means 1MDB has edged out stiff competition from YTL Power International, which was initially reported to be the frontrunner for the project with a lower adjusted tariff of 25.23 sen/kWh.
Some reports claim that YTL Power’s bid was preferred by the EC’s technical evaluation team with an overall cheaper cost compared to 1MDB’s bid, which was initially said to be at 25.65 sen/kWh.
However, 1MDB’s proposed site for the power plant — next to its existing 1,400MW coal-fired power plant in Jimah — means the new plant would be closer to an injection point where the power generated can be channeled into the national grid.
In comparison YTL Power had proposed a site in Tanjung, Johor, is reportedly three times farther from an injection point compared to 1MDB’s site, which means a greater distance of transmission in turn leading to higher transmitted energy losses.
Previous media reports also claimed that even in the best case scenario YTL Power’s bid price would end up higher than 1MDB’s bid price. Reports quoting unnamed sources said that YTL Power was the only bidder whose proposed location was not within the country’s major load centres.
Other bidders for the project was TNB and and Malakoff Corp Berhad.

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