A subsidiary of YTL Power International Bhd, a Malaysian multi-utility provider, has plans to buy a 396-megawatt combined-cycle power plant and related assets in Singapore for S$331.45 million ($238 million).
In a filing with the Malaysian stock exchange, Bursa Malaysia, the company said it would shell out S$230 million ($165 million) in cash and S$101.45 million ($72 million) of ordinary shares and loan notes.
According to New Straits Times, the power plant was commissioned in 2016 and was originally constructed as part of a water desalination project.
YTL Power International Bhd said the acquisition presented an opportunity to acquire an efficient, operating asset with a proven operational track record, according to Malay Mail.
