Genting’s power division is steered by
Genting Sanyen Power Sdn Bhd, a 58.6% owned subsidiary of the Group and is
involved in the power generation and supply operations. The division’s jewel is
Genting Sanyen Kuala Langat power station, which is a 720 MW gas fired combined
cycle power plant located at Genting Sanyen Industrial Complex in Selangor,
Malaysia. The plant supplies electricity to Tenaga Nasional Berhad, Malaysia’s
largest electricity utility, under a 21-year power purchase agreement that will
expire in 2015.
The plant is one of the five initial
Independent Power Producers (IPPs) in Malaysia and the first IPP signed to
provide power to Tenaga Nasional in February 1994. The plant has the distinction
of being the first and only thermal power plant in Malaysia to provide its own
water supply and to supply steam to another industry. It is also the first
thermal power plant in Malaysia that uses wet cooling towers and the first in
Asia that employs the environmental-friendly hybrid cooling tower concept that
produces no visible plume.
The plant is one of the most efficient in
Malaysia. Its strong management is reflected by its steady annual cashflows to
Genting Group and its debt free status.
Genting Group has ventured into two other
power investments in India, through the acquisition of a 30% interest in 368
mega-watt Lanco Kondapalli power plant in Andhra Pradesh and a 35% stake in Aban
Power Company, which is completing a 120 mega-watt gas fired power plant in