KUALA LUMPUR: YTL Power International Bhd’s wholly-owned subsidiary, YTL PowerSeraya Pte Ltd, has secured the first request for proposal (RFP) under the Singapore Energy Market Authority’s new Centralised Process Framework.
In a statement, YTL Power International said the project involves developing a 600MW hydrogen-ready combined cycle gas turbine (CCGT) at its Pulau Seraya Power Station (PSPS) site.
It said the framework strategically coordinates private sector investments to ensure sufficient generation capacity by 2028, safeguarding Singapore’s future energy needs.
The construction of the CCGT is estimated to cost S$800 million (RM2.82 billion) and is targeted to be completed by Dec 31, 2027.
“The project would complement and diversify Singapore’s power mix alongside solar, imported electricity, and other potential low-carbon energy sources,” it said.
YTL Power International said the CCGT is also set to make a substantial impact to support the nation’s generation capacity to meet growing electricity demand.
“YTL PowerSeraya’s CCGT would be at least 30% volume hydrogen-ready, with the ability to be retrofitted to become operationally 100% hydrogen-ready in the future, aiding in emissions reduction, as the combustion of hydrogen gas generates no greenhouse gases.
“This underscores the organisation’s commitment to environmentally sustainable practices,” it said.
At the close of trade today, YTL Power’s share price was down by two sen or 0.5% at RM3.95, giving it a market capitalisation of RM32.22 billion.
