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YTL Power subsidiary to acquire Singapore power plant for $230 million

  • 6 months ago (2020-03-13)
  • David Flin
Asia 578 Gas 181

YTL Power International has said that its wholly-owned subsidiary YTL PowerSeraya will acquire Tuaspring’s power plant and associated assets in Singapore for $230 million. The assets comprise a land lease over the site with a 20-year remaining term and a 396MW combined cycle power station and stocks and associated assets.

YTL Power said: “The assets form a logical extension of YTL Power’s existing multi-utility operations in Singapore. The proposed acquisition would also enable YTL Power to integrate the assets into YTL PowerSeraya’s existing businesses and consolidate its power generation capacity in Singapore.” YTL Power said it expects to complete the acquisition by the end of the second quarter of this year.