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Genting Energy Limited comprises the power and oil & gas business activities of the Group.

Genting Power Holdings Limited (“Genting Power”) spearheads the power business of the Group. With interests in gas-fired, coal-fired and wind power plants in China and India, together with its interests in the newly completed Meizhou Wan Phase II in China and Banten Phase I in Indonesia, Genting Power’s net attributable operating capacity is 2,307MW.

Genting Oil & Gas Limited (“Genting Oil & Gas”) spearheads the oil and gas business of the Group.

In China, Genting Power has a 49% stake in Fujian Pacific Electric Company Limited which owns and operates the 724MW coal-fired Meizhou Wan power plant (Phase I) in Putian. The new 2x1,000MW ultrasupercritical coal-fired power plant (“Meizhou Wan Phase II”) located adjacent to Phase I , was jointly developed by Genting Power and SDIC Power Holdings Co Ltd (“SDIC”) and has commenced commercial operation in September 2017.

In India, Genting Power has interests in three power plants, namely:

  • 31.9% owned Lanco Kondapalli power plant (comprising 368MW Phase I, 366MW Phase II and 740MW Phase III);
  • 41.6% owned 113MW Lanco Tanjore power plant in Tamil Nadu and
  • 100% owned 91.8MW Jangi wind farm in Gujarat.

In Indonesia, the construction of the 660MW coal-fired Banten power plant in Java (“Banten Phase I”) progressed well and the plant has achieved commercial operations in March 2017.

Genting Power continued to recognise revenue and profit on the construction contracts during the ongoing construction period of the Banten power plant in 2016. The power plant will operate on a 25-year power purchase agreement on a build-operate-transfer basis. After the entry of SDIC into the project, the project company, PT Lestari Banten Energi (“PT LBE”), is indirectly owned by Genting Power (55%), SDIC (45%) and PT Hero Inti Pratama, an Indonesian partner (5%). In 2016, Genting Power formed PT Lestari Banten Listrik (“PT LBL”) to negotiate an extension to Banten Phase I by the construction of another 680MW coal-fired power plant within the premise of Banten Phase I. Both PT LBL and PT LBE have the same shareholding structure.

Genting Oil & Gas’ wholly-owned subsidiary, Genting CDX Singapore Pte Ltd has a 57% working interest in the Petroleum Contract for the Petroleum Exploration, Development and Production in Chengdaoxi Block in the shallow waters of Bohai Bay in China. Bohai Bay contains significant oil and gas reserves and provides much of China’s offshore production.

In 2016, the Chengdaoxi Block project delivered 2.8 million barrels of oil and Genting Oil & Gas’ share was 1.5 million barrels. Chengdaoxi Block has an area of 29 square kilometres and has consistently produced close to 8,000 barrels of oil per day. China’s China Petroleum & Chemical Corporation (Sinopec) is the partner of this joint venture

The Genting Oil & Gas team has onshore oil and gas exploration activities in the Kasuri Production Sharing Contract in West Papua, Indonesia. There was no drilling activity in 2016 as the team was engaged in discussions with the Indonesian oil and gas regulator on the submission of a plan of development for the Asap-Kido-Merah discoveries. The approval of the plan of development is targeted by end-2017.

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