TNB targets 20% of revenue from overseas
MALAYSIA’S main power company, Tenaga Nasional Berhad, is aiming to derive 20 per cent of its revenue from overseas by 2025.
TNB said this would be driven by its aspirations for further growth as expansion at home tapers because of the country’s shift of focus towards the services industry.
“There has been a decoupling of electricity demand growth from the GDP growth figures, and so we will look outside of the country to diversify our revenues,” TNB president and chief executive officer Azman Mohd said at a press conference.
The group said the contribution of revenue from overseas was now at a negligible level but it expected to put more focus on growing this contribution.
On Monday, The Star’s StarBiz section reported that TNB was aggressively expanding its global footprint, eyeing opportunities in Southeast Asia, South Asia and the Middle East,
TNB has made two notable overseas investments this year via a 30-per-cent stake in Turkey’s GAMA Enerji and a 30-per-cent stake in India’s GMR Energy, for a total of US$300 million (Bt10.7 billion).
TNB’s interest in Turkey could pave the way for the Malaysian company to capitalise on latent opportunities in the region’s power-plant operation and maintenance sector.
GAMA Enerji currently has an 840-megawatt natural-gas-fired plant and a 45MW wind-power plant under construction in Turkey, which will come online at the end of 2016. It has also developed and operates a large water-conveyance project in Jordan.
GMR Energy owns and operates 2,298MW of coal, gas and solar assets in India.
