Review of Operations - Genting Group
Review of Operations - Genting Group
Review of Operations - Genting Group
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
38<br />
GENTING BERHAD<br />
A nnual Report 2006<br />
Meizhou Wan Power Plant, China<br />
POWER<br />
www.gentingsanyen.com<br />
The Power Division is spearheaded by 100%-owned <strong>Genting</strong><br />
Power Holdings Limited.<br />
The division’s crown jewel is the 720MW Kuala Langat power<br />
plant, strategically located at the <strong>Genting</strong> Sanyen Industrial<br />
Complex, a few minutes’ drive from Kuala Lumpur International<br />
Airport. The plant is operated by the <strong>Group</strong>’s subsidiary<br />
<strong>Genting</strong> Sanyen Power Sdn Bhd, which is an Independent<br />
Power Producer in Malaysia. The gas-fired combined cycle<br />
power plant, in its eleventh year <strong>of</strong> full commercial operations<br />
in 2006, remained highly ranked in the merit order despatch<br />
schedule <strong>of</strong> Tenaga Nasional Berhad, Malaysia’s national<br />
utility group.<br />
A significant milestone was reached on 26 May 2006, when the<br />
Division acquired the remaining 73.8% interest in China-based<br />
Meizhou Wan power plant and a 100% interest in its project<br />
management company for US$155.3 million. This has enabled<br />
the <strong>Group</strong> to operate its first 100%-owned power plant and has<br />
increased the <strong>Group</strong>’s net attributable capacity by 59% to a<br />
total <strong>of</strong> 1,450MW in 2006.<br />
The 724MW Meizhou Wan coal-fired power plant in Fujian<br />
Province spearheads the power generation operations <strong>of</strong> the<br />
Division in China. The Division has interests in three other<br />
power plants in Jiangsu Province, comprising 109MW Suzhou<br />
gas-fired combined cycle power plant (60%-owned), 76MW<br />
Nanjing diesel-fired open cycle power plant (80%-owned) and<br />
42MW Wuxi gas-fired open cycle power plant (60%-owned).<br />
In India, the Division’s two power plants, namely Lanco<br />
Kondapalli and Aban Power continued to perform well in 2006.<br />
The Division has a 30% interest in 368MW Lanco Kondapalli, a<br />
gas-fired combined cycle power plant in Andhra Pradesh, that<br />
is operated and maintained by <strong>Genting</strong> Lanco Power Private<br />
Ltd, a 74%-owned subsidiary <strong>of</strong> the <strong>Group</strong>.<br />
The Division has a 36.26% interest in Aban Power, a 113MW<br />
gas-fired combined cycle plant in the Tanjore District <strong>of</strong> Tamil<br />
Nadu, which began commercial operations in August 2005. All<br />
electricity generated by the Aban Power plant is contracted to<br />
the Tamil Nadu Electricity Board, the state electricity distributor,<br />
under a power purchase agreement.<br />
During the year, the Division’s revenue surpassed the RM1<br />
billion mark to RM1,325.8 million (2005: RM701.1 million),<br />
while pr<strong>of</strong>it before tax was RM458.6 million (2005: RM266.8<br />
million). The significantly higher performance was mainly due<br />
to contributions from the four power plants in China, acquired<br />
in December 2005 and May 2006.<br />
Nanjing power plant<br />
Wuxi power plant<br />
Suzhou power plant<br />
Meizhou Wan power plant<br />
Lanco Kondapalli power plant<br />
Aban power plant<br />
Kuala Langat power plant<br />
Kuala Langat Power Plant, Malaysia<br />
Lanco Kondapalli Power Plant, India<br />
Location Map <strong>of</strong> <strong>Genting</strong> Power Plants
Change language