This article first appeared in The Edge Financial Daily, on August 5, 2016.

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) said yesterday it has not been notified by the Energy Commission (EC) in relation to its participation in the development of Tadmax Resources Bhd’s 1,000mw power plant in Pulau Indah, Selangor.

In a filing with Bursa Malaysia yesterday, the state-controlled utility giant said it has not received any notification to that effect up until now.

Tadmax announced on Wednesday that the company had received a letter of award from the EC to build a 1,000mw combined-cycle gas-fired power plant in Pulau Indah.

“The letter of award is subject to various conditions, including finalising the terms of the agreement relating to the project with relevant parties and further subject to changes arising from negotiations prior to submission to the EC,” the timber-cum-property developer said in the announcement.

In line with the decision of the government, Tadmax said TNB was to be invited to participate in the power plant project.

“The board of Tadmax will be deliberating on and studying the letter of award,” it added.

Shares in TNB gained four sen or 0.28% to close at RM14.40 yesterday, for a market capitalisation of RM81.27 billion. Meanwhile, Tadmax shares closed down three sen or 7% at 47 sen, for a market capitalisation of RM232.39 million.