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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 businesses of the Group. Its net attributable operating capacity is 2,061MW from its interests in coal-fired, gas-fired and wind power plants in Indonesia, China and India, including two newly commissioned coal-fired power plants in Indonesia and China.

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

In China, Genting Power has interests in two power plants, namely:

  • 49% owned 724MW Meizhou Wan coal-fired power plant (Phase I) (“MZW I”) in Putian, Fujian; and
  • 49% owned 2x1,000MW ultra-supercritical coalfired power plant (Phase II) (“MZW II”) adjacent to MZW I.
    • Genting Power co-developed MZW II with SDIC Power Holdings Co. Ltd. (“SDIC”), a China state owned enterprise. MZW II successfully achieved full commercial operations in September 2017.

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

  • 100% owned 91.8MW Jangi wind farm in Gujarat;
  • 41.6% owned 113MW Lanco Tanjore power plant in Tamil Nadu; and
  • 15.3% owned Lanco Kondapalli power plant in Andhra Pradesh (comprising 368MW Phase I, 366MW Phase II and 740MW Phase III).

During the year, the effective interest in Lanco Kondapalli was diluted from 31.9% to 15.3% as a result of a debt restructuring exercise by the lenders of the company.

In Indonesia, the 55% owned 660MW supercritical coal-fired power plant (Phase I) in Banten, West Java (“Banten I”) successfully achieved commercial operations in March 2017. The plant has achieved more than 90% availability since the commencement of its commercial operations. Banten I operates on a 25-year power purchase agreement on a build-operate-transfer basis that was signed with PT PLN (Persero).

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, China. Bohai Bay contains significant oil and gas reserves and provides much of China’s offshore production.

In 2017, the Chengdaoxi Block project delivered approximately 2.8 million barrels of oil and Genting Oil & Gas’ share was 1.6 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. The plan of development for the Asap-Kido-Merah discoveries has been recommended to the Indonesian oil and gas regulator. The approval of the plan of development by the Indonesian government is targeted by 2018.

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