Friday 10 July 2015

TNB: Jimah may get new Japan shareholder, purchase of 1MDB stake in Jimah completed

Jimah East Power Sdn Bhd (JEP), the operator of the 2,000MW coal-fired power plant known as Project 3B, may see the entry of a new shareholder after it completes its financial close.

At present, Tenaga Nasional Bhd (TNB) holds a 70% stake in JEP, while Mitsui & Co Ltd owns the remaining 30% through 3B Power Sdn Bhd.

In an announcement to Bursa Malaysia yesterday, TNB said The Chugoku Electric Power Co Inc, one of Japan’s biggest regional power utilities, may take up half of the interest in 3B Power.

This follows a prior commercial arrangement between Mitsui and Chugoku Electric Power, which TNB describes as “a Japanese utility company that has vast experience in ultra-supercritical boilers”.

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