Jimah East power station

From Global Energy Monitor

Jimah East power station, also known as the Project 3B, is a 2,000 megawatt (MW) coal-fired power station in Jimah, Malaysia. The plant was commissioned in 2019.

Location

The project is adjacent to the existing Jimah Power Plant in Mukim Jimah, Port Dickson, Negeri Sembilan. That plant is shown below.[1]

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Background on Plant

In April 2013, the Energy Commission (EC) shortlisted five consortia to tender for the 2,000 MW Project 3B coal-fired power plant, to be developed at the respective consortium's proposed site. The five shortlisted consortia are 1Malaysia Development Bhd (1MDB), Formis Resources Bhd, Tenaga Nasional Bhd (TNB), Malakoff Corp Bhd and YTL Power International Bhd. 1MDB has proposed the plant to be located at Jimah, Negri Sembilan, while Malakoff has proposed Pulau Carey, Selangor. Both Formis and YTL Power have proposed Tanjung Tohor, Johor. TNB has proposed Tanjung Hantu - Segari, Perak.[2]

In March 2013, it was announced that 1Malaysia Development Bhd and partner Mitsui Co Ltd had been selected to build the project, offering a levelised tariff of 25.33 sen a kWh. The project would use IHI ultra-supercritical technology steam generator and two units of Toshiba turbo generator.[1]

The selection followed an intense period of lobbying for the project by the two front runners, YTL Power and 1MDB.[3]

In February 2015, 1MDB said it expected to withdraw from the 3B power project due to lack of funding, thereby allowing Malaysia's largest power group Tenaga Nasional Bhd (TNB) to take over the project.[4] Due to the transfer Project 3B has been postponed from the originally proposed October 2018 start date to June 2019.[5]

In August 2016, it was reported that construction had begun on the project.[6]

In March 2017, it was reported the plant was on-track for completion in December 2019.[7]

Construction was 75% complete as of April 2018.[8]

In May 2019, it was reported that Unit 1 will be commissioned in June 2019, and Unit 2 will be commissioned in December 2019.[9]

Unit 1 was commissioned on August 21, 2019.[10] Unit 2 was commissioned on Dec. 27, 2019.[11]

Ownership

Jimah East Power (JEP) is the operator of the proposed project. TNB holds a 70% stake in JEP while Mitsui & Co Ltd owns the remaining 30% through 3B Power. In July 2015, TNB said Chugoku Electric Power Co Inc, one of Japan’s biggest regional power utilities, might take up half of Mitsui's interest in 3B Power,[12] a deal announced in January 2016.[13]

Financing

In November 2015, a financing agreement for this project was closed. HSBC, CIMB Group, and Maybank agreed to arrange US$2,065 million in bonds. Mitsui & Co and Tenaga Nasional agreed to provide US$610.53 million in equity. Mitsubishi UFJ Financial Group, PwC, and HSBC acted as financial advisers.[14]

Project Details

  • Sponsor: Jimah East Power
  • Parent company: 70% Tenaga Nasional Bhd, 15% Mitsui, 15% Chugoku Electric Power
  • Location: Mukim Jimah, Port Dickson, Negeri Sembilan[3]
  • Coordinates: 2.5916, 101.7246 (location of the Jimah Power Plant. Project 3B will be built adjacent to the existing plant)
  • Status: Unit 1: Operating (2019), Unit 2: Operating
  • Capacity: 2,000 MW (Units 1-2: 1,000 MW)
  • Type:  Ultra-supercritical
  • In service: 2019
  • Coal Type:
  • Coal Source:  
  • Source of financing: US$2,065 million in debt from HSBC, CIMB Group, and Maybank; US$610.53 million in equity from Mitsui & Co and Tenaga Nasional[14]

Articles and resources

References

  1. 1.0 1.1 "IMDB clinch Project 3B coal fired plant," The Sun Daily, March 3, 2014
  2. "Energy Commission shortlists 5 for 2,000MW power plant," The Star, April 19, 2013.
  3. 3.0 3.1 Gurmeet Kaur, "Intense lobbying has stalled decision-making for the 2,000MW coal-fired power plant under Project 3B," The Star Online, 8 February 2014
  4. "Malaysia's 1MDB calls off $2.4 bln sukuk for power project-sources," Reuters, Feb 7, 2015
  5. "Project 3B plant ops date delayed due to transfer from 1MDB to TNB," The Star, 30 June 2015
  6. "Construction kicks off on RM12b Jimah East Power Project in Malaysia," Asia Power, 2 August 2016
  7. "TNB's Jimah project on track for completion by December 2019," The Star, Mar 27, 2017
  8. TNB completes 75% of works in Jimah East Power plant, The Malaysian Reserve, Apr. 4, 2018
  9. TNB peruntuk perbelanjaan modal lebih rendah, BH Online, May 14, 2019
  10. Chong Jin Hun, "TNB Jimah East's First Power Plant Starts Commercial Operations," The Edge Markets, August 22, 2019
  11. TNB’s Jimah East Power plant now fully operational, The Malaysian Reserve, Dec. 31, 2019
  12. "New shareholder may emerge in Project 3B under by TNB and Mitsui," The Star, 9 July 2015
  13. "Partial Sale of Equity in 2,000MW Ultra Super Critical Coal-fired Power Project in Malaysia," Mitsui, Jan. 20, 2016
  14. 14.0 14.1 "Preview of Jimah East Coal Fired Power Plant (2000MW) | Transaction | IJGlobal". ijglobal.com. Retrieved 2020-11-16.

Related GEM.wiki articles

External resources