Teknologi Tenaga Perlis Consortium Sdn Bhd (TTPC)

BACKGROUND & EXPERIENCE

PROJECT FINANCING

The total TTPC Perlis Power Plant Project cost is approximately USD600 Million and is financed through equity contribution of USD120 Million and the issue of USD480 Million Al-Istisna Islamic Bonds (TTPC Bonds). The bonds have been rated AA1 since 2007. The AA1 rating indicates that TTPC has a high safety for timely repayment of financial commitments.

HISTORY EXPERIENCE

TTPC's Perlis power plant achieved its Commercial Operation Date (COD) on 31st March 2003 as agreed in the PPA and the project was completed at a record time of 21 months from financial close with no cost overrun.

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FINANCIAL & PLANT PERFORMANCE HIGHLIGHTS

CREDIT RATING

RAM Rating Services Sdn Bhd ("RAM Rating") has reaffirmed the AA1/stable rating of Teknologi Tenaga Perlis Consortium Sdn Bhd's (TTPC or the Company) RM835.0 Million Sukuk Murabahah (2013/2023). The rating reflects the Company's sturdy business profile, underscored by the strong terms of its Power Purchase Agreement (PPA) with Tenaga Nasional Berhad (TNB), its plant's laudable operational track record, as well as the Company's robust debt-servicing ability.

FINANCIAL PERFORMANCE

TTPC has remained profitable over the years since the commissioning of its power plant, thanks to stringent cost management and efforts to enhance cost efficiency. Despite several increases in natural gas prices, the IPP has been able to pass through the higher fuel costs to TNB thanks to its ability to meet all performance requirements under the PPA. TTPC's balance sheet also continues to be strong with liabilities remain under tight monitoring. The company has optimised retained earnings to support operations without incurring in the past five years.

99% Average Reliability

80%+ Load Factor

650MW Generation Capacity

AA1 Credit Rating

PLANT PERFORMANCE DATA

Since its commission in 2003, the plant has been operating exceptionally well with the average reliability of 99% (forced outage: 1%). It also achieved the highest availability among all combined cycle power plants in Malaysia. The plant is optimised in terms of productivity with load factor of over 80%.

The following showed the performance data from 2013 to 2018.

Year	Availability (%)	Reliability (%)	Load Factor (%)
2013	95.2	99.1	82.5
2014	94.8	98.9	81.2
2015	95.5	99.2	83.1
2016	94.9	98.8	80.8
2017	95.3	99.0	82.3
2018	95.1	98.9	81.5

PROJECT DEVELOPMENT CAPABILITY & EXPERIENCE

FINANCING HISTORY & EXPERIENCE

TTPC Perlis Power Plant Project was funded through a USD 480 Million Al-Istisna Islamic Serial Bond Facility (TTPC Bond) on a non-recourse project base structure. The Bond was initially rated a AA3 rating by RAM and has been now upgraded to AA1 rating since 2007.

CONTRACTUAL AGREEMENT EXPERIENCE

TTPC is experienced in the most appropriate legal structure in ensuring that all financial terms of the various legal documents are acceptable to lenders. The key commercial and legal framework agreements are expected to include:

Power Purchase Agreement (PPA)
Implementation Agreement (IA)
Shareholders Agreement
Gas Supply Agreement (GSA)
Operation & Maintenance Agreement

OPERATION & MAINTENANCE SERVICES

Global E-Technic Sdn Bhd (GET), a wholly owned subsidiary of TTPC, was incorporated on 27th April 2001 with the primary objective of performing operation and maintenance services on TTPC's power plant.

GET has proven track record and capability in providing power plant O&M services from the beginning to the end based on the following phases:

TTPC Power Plant Control Room Operations

01

Initial Project Support Phase

Initial Project Support basically reviews all elements of the project for successful operation and maintenance of a facility, including project design, P&IDs, O&M manuals, initial critical spares recommendation and safety and environmental laws and guidelines.

02

Mobilization Phase

Mobilisation is an important element and its success is tied to the successful O&M of a facility. A successful mobilisation programme essentially covers equipment training, setting up of O&M standard operating procedures, develop safety training and participate actively in commissioning process of a facility prior to commercial operation.

03

Operations & Maintenance Phase

When ownership takes place of a facility, the O&M phase also begins. GET is able to provide optimal O&M support to owners of a facility under the following scope of the power plant O&M services.

Learn More About O&M Services

AWARDS & CERTIFICATIONS

2004

Bronze Award of Commendation

Engineering Award 2004 in Category 2 - Mechanical & Electrical Engineering from the Association of Consulting Engineers Malaysia for TTPC's 650MW Combined Cycle Power Plant. The award is a recognition of dedication, innovation, perseverance and strong commitment in meeting engineering-consultancy excellence.

2004

Triple Certifications

MS ISO9001, MS ISO14001 and OHSAS18001 from SIRIM QAS International. This was a big achievement for TTPC as it was only 18 months into commercial operation of the Perlis Power Plant and being acknowledged by Malaysia's leading certification, inspection and testing body is a reflection of TTPC's abilities to deliver energy while ensuring safety and security of the plant.

2006

GOLD Award

Global E-Technic Sdn Bhd, a wholly owned subsidiary of TTPC, won the GOLD Award under the Utilities (Electricity) category by the Prime Minister of Malaysia organized by the Malaysian Council Occupational Safety and Health (MCOSH). This is again another recognition that TTPC has upheld a stringent process and procedures that put safety as the utmost priority.

2013

Power Producer Excellence Award

KIA (KeTTHA Industry Award) 2013 under the Combined Cycle Power Plant Category, jointly organized by the Ministry of Energy, Green Technology & Water (KeTTHA), GreenTech Malaysia, Sustainable Energy Development Authority Malaysia (SEDA), Suruhanjaya Tenaga (ST) and Suruhanjaya Perkhidmatan Air Negara (SPAN). The award is in recognition for TTPC's outstanding and significant contribution to the energy industry.

2013

MS ISO/IEC 27001:2007 Certification

Certification from Cyber Security Malaysia. The certification acknowledges that the Information Security Management System (ISMS) of TTPC is managed according to the best practices as established by the standards.

CAREER

Be Great with Us

Interested in joining us to make an impact in the Energy Industry? Looking for an opportunity to build a rewarding career with our dedicated team? Teknologi Tenaga Perlis Consortium Sdn Bhd offers you a wide range of career possibilities to develop your capabilities.

We credit our success and proven track record as a power developer and operator to our employees. We believe you will be able to savor exciting opportunities and enriching experiences.

Current Vacancies

There are currently no vacancies available. However, we are always keen to meet dynamic and capable professionals who would like to join our team.

Email us at careers@ttpc.com.my

CORPORATE SOCIAL RESPONSIBILITY

TTPC is firmly committed to active corporate philanthropy and encourages participation from local communities to contribute to the development of social responsibility.

TTPC Environmental Initiative - Tree Planting

Environmental Initiatives

Education Support

Community Health

Sports Sponsorship