04 Oct '11, 12am

No more Easy money for IPPs

No more EASY money for Independent Power Producers, says AWER by Malaysiakini (10-03-11) Renegotiation of power purchasing agreements (PPAs) must be completed by November 30 this year or the country will continue to bleed money into independent power producers (IPP), the Association of Water and Energy Research Malaysia (AWER) said today (October 3). Any delay in renegotiations between the government and IPPs would give the IPPs leverage to bulldoze exorbitant project bids to build new power plants on the excuse of lack of time, the NGO said. Taking the issue of the recently approved construction of the Manjung and Tanjung Bin coal-powered plants, AWER said Malakoff Corporation Bhd got the Tanjung Bin project at RM500 million higher than the first project – because of the rush to build the power plant. The association pointed out that while the Manjung plant project was aw...

Full article: http://dinmerican.wordpress.com/2011/10/04/no-more-easy-m...

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