SESCoSarawak Electricity Supply Corporation (Malaysia)
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The Company is entitled to earn full capacity payments, irrespective of the quantum of electricity generated (subject to meeting certain performance requirements), as well as a partial guarantee on energy payments from SESCO.
SPG is an independent power producer (IPP) that built, owns and operates a 320-MW combined-cycle, gas-turbine facility in Tanjung Kidurong, Bintulu, Sarawak, under a 25-year power purchase agreement (PPA) with SESCO which expires in February 2024.
The Company's sturdy business profile stems from the favourable terms of its power purchase agreement (PPA) with SESCO. The Company earns full capacity payments (CPs), so long as its OCGT meet the operating parameters specified in the PPA.