TNB expands international RE footprint with Singapore’s Sunseap Group

KUALA LUMPUR (BERNAMA) – Tenaga Nasional Bhd (TNB) through its whollyowned subsidiary, TNB Renewables Sdn Bhd has entered into a binding term sheet of collaboration with Sunseap Group to tap into the renewable energy (RE) and corporate power purchase agreement (PPA) market in Singapore.

Its President and Chief Executive Officer Baharin Din said the collaboration with the Singapore-based company is an important milestone for the expansion of TNB’s international RE footprint into Southeast Asia.

“This will be TNB’s first foray into Singapore’s RE market and the group would be well-positioned to tap into the attractive and rapidly growing corporate PPA segment.

“The collaboration is also timely, in anticipation of the tender launch by Singapore’s Energy Market Authority for a trial of the Malaysia-Singapore cross-border energy supply, expected to launch by March 2021,” he said in a filing with Bursa Malaysia yesterday.