Tuesday, April 15, 2014

Direct Award From Tenaga Nasional To 1MDB

The direct award by Tenaga Nasional Bhd to 1Malaysia Development Bhd (1MDB) of
a 50MW solar power plant proved a desperate attempt by the Najib administration
to bailout the heavily indebted sovereign wealth fund.

It is bad enough for the Malaysian power sector when the Ministry of Energy, Green
Technology and Water (KeTTHA) shifted goalposts with the qualifying criteria to award
1Malaysia Development Bhd with a 2,000MW coal-fired plant on 28th February despite offering
a higher power tariff in an “open tender” exercise.

Yesterday, Tenaga Nasional Bhd (TNB) said it had signed another power purchase pact with
1MDB on the construction a solar power plant. 1MDB will design, construct, own, operate and
maintain a 50 megawatts solar photovoltaic energy facility in Kedah and supply electrical power
to TNB over.