Tata Power shortlisted to bid for Senoko Power-Singapore

06 August 2008

Singapore's state-owned investment company Temasek Holdings has shortlisted Tata Power among five other companies to bid for the 3300 MW Senoko Power Limited, Singapore's largest power generating company.

The other shortlisted companies in the race are Japan's Marubeni Corporation, Malaysia's YTL Power Bhd, France-based GDF Suez and a tie-up between Hong Kong's CLP Holdings and Japan's Mitsubishi Corp - OneEnergy Ltd.

Senoko Power is the second of the three power generating companies that Temasek had planned to divest. After the successful sale of Tuas Power to SinoSing Power Pte Ltd earlier in March, Temasek announced the divestment process of  Senoko Power in July 2008. It also said that it would sell its third power generation company PowerSeraya after the sale of Senoko.

Wholly owned by Temasek, Senoko Power accounts for approximately 30 per cent of Singapore's electricity generation in 2007.  It has a combined installed capacity of 3,300 megawatts (MW) comprising 1,945MW of combined cycle plants (CCPs), 1,250 MW of thermal plants and 105MW of fast-start gas turbines. It  owns and operates Senoko Power Station and Pasir Panjang Gas Turbine Station.

It had revenues of S$2,495 million and EBITDA of S$245 million for the year ended 31 March 2008.

 "The sale of Senoko Power, which follows the divestment of Tuas Power in March this year, is a continuation of Temasek's plan to divest all of our three Singapore gencos, " said Wong Kim Yin, managing director of Investment at Temasek Holdings. "This will provide an orderly transition to a competitive yet stable power generation market in Singapore."