Malaysia’S Petronas Gas has signed a pact with a government foundation to jointly develop a 300-megawatt power plant in Sabah to meet a growing power demand, the company said today.
Under the pact, Petronas Gas and Yayasan Sabah will form a joint venture company to develop, operate and maintain the proposed gas-fired power plant and its related facilities and infrastructure, Petronas Gas said in a statement.
Petronas Gas, part of state energy firm Petronas, will have a 60% stake in the joint venture, while the remaining 40% will be held by Yayasan Sabah.
The joint venture company will also undertake the sale and delivery of electricity from the proposed power plant, it said.
It gave no other details.