YTL Power buys Singapore’s Tuaspring Power Station

The total consideration stood at S$270m.

YTL Power International Berhad has closed the acquisition deal of Tuaspring Pte Lrd’s 396-megawatt combined cycle gas turbine power plant in Singapore. 

The total consideration for the acquisition stood at S$270m, down from the original proposed S$331.45m. This will be settled through a combination of cash and loans in the holding company YTL PowerSeraya.

“Tuaspring’s combined cycle power station complements the Group’s existing power generation assets in Singapore, creating significant synergies across our portfolio of utility businesses,” Dato’ Yeoh Seok Hong, Managing Director of YTL Power, said.

“The Tuaspring plant is one of the most technologically advanced assets on Singapore’s power generation grid and this was a sound opportunity to acquire a well-structured, operating asset with a proven operational track record, enabling us to consolidate our power generation capacity in Singapore.”

The power station was commissioned in 2016 and was originally constructed as part of a desalination project under a private public partnership project with PUB, Singapore's National Water Agency. 

The water desalination plant was subsequently taken over by PUB in 2019, whilst YTL PowerSeraya has now acquired the power station.