A 60% shareholding of this second-generation independent power producer (IPP) is held by Tenaga Nasional Bhd (TNB), while the balance is held by Malakoff Corp Bhd. The power plant was officially opened on March 14, 1987, and converted into an IPP on July 9, 2004. KEV has been reporting losses due to multiple technical issues affecting the performance of its power plants. Among the technical issues at KEV are general ageing, siltation at the seawater intake which had caused breakdown to the cooling water pump and turbine vibration. Management has engaged RWE Technology International, a reputable international engineering consulting company, to assist with the plant’s turnaround plan.

Source: The Edge Markets October 10, 2016 02:15 UTC