Financing History

Total Project Cost

USD 600 Million

TTPC Perlis Power Plant Project

Financing Structure

Equity Contribution USD 120 Million 20%
Al-Istisna Islamic Bonds USD 480 Million 80%

Bond Details

Facility Al-Istisna Islamic Serial Bond
Structure Non-recourse Project Finance
Initial Rating AA3 (RAM Rating Services)
Current Rating AA1 (Since 2007)

Credit Rating Excellence

AA1 / Stable

The AA1 rating indicates that TTPC has a high safety for timely repayment of financial commitments. This rating reflects:

✓ Sturdy business profile
✓ Strong Power Purchase Agreement terms with TNB
✓ Laudable operational track record
✓ Robust debt-servicing ability

Project Achievement

21
Months

Record time from financial close to COD

0
Cost Overrun

Project completed within budget

2003
COD

Commercial Operation Date achieved