Sarawak Energy Berhad buys 2.4GW Bakun dam for US$584m

SEB now controls Sarawak Hidro Sdn Bhd, owner of the plant.

The Malaysian state-owned utility Sarawak Energy Berhad (SEB) has completed the acquisition of the 2,400 MW Bakun dam from the Ministry of Finance and Pesuruhjaya Tanah Persekutuan for Myr 2.5bn (US$584m), according to Enerdata.

Under the framework of the deal, SEB now assumes control of Sarawak Hidro Sdn Bhd (SHSB), the owner and operator of Bakun hydroelectric plant, through its wholly owned subsidiary SEB Power Sdn Bhd. The acquisition was announced as of March 2017 and is being funded through a mix of internal funds and external financing.

Here's more from Enerdata:

The 2,400 MW Bakun hydroelectric power station was completed in 2010, partly commissioned in 2011 and has been fully operational since July 2014. It is located on the Balui river in the Sarawak state (Borneo island, Malaysia).

Earlier in August 2017, SEB also awarded a contract for the construction of the 1,285 MW Baleh hydroelectric plant (Borneo island, malaysia) to a Chinese JV owned by China Gezhouba Group and Untang Jaya. The agreement includes the construction of the dam on the Baleh River in the state of Sarawak and the construction is expected to begin in October 2018.

This story was originally published by Enerdata.

Also Read

Chubu Electric seeks researchers for Hamaoka nuclear plant

CIP, AMPIN Energy expands partnership in India

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit