KUALA LUMPUR (July 1): Genting Bhd (KL:GENTING) said its 49%-owned unit has handed over a 786MW coal-fired power plant in Fujian, China, to the local government following the expiry of the 21.5-year power purchase agreement.
The unit, SDIC Genting Meizhou Wan Electric Power Company Ltd (SDICG MZW), has been operating the facility since January 2004 under a build-operate-transfer agreement.
“This handover reflects the group’s long-term commitment to developing a cleaner, more sustainable energy portfolio,” Genting said in a bourse filing on Tuesday.
Post-handover, SDICG MZW will continue to own and operate the 2,000MW ultra-supercritical Meizhou Wan power plant, commissioned in 2017 with advanced generation technology and full environmental compliance.
Genting said it does not plan to pursue new coal projects but will continue to manage its existing coal-fired assets “responsibly until the end of their operational life”, supporting a balanced transition strategy.
The group said its power division remains focused on high-potential investments in renewable and clean energy, including two projects under its joint venture with SDIC Power Holdings Co Ltd.
They are a120MWp aquaculture-complementary solar power plant in Dongwu Cha, Fujian, which commenced commercial operations on May 31, 2025, and a hydrogen-ready 1,490MW gas-fired power plant under development in Zhoushan, China, scheduled for commercial launch by mid-2026.
Genting previously disclosed in June 2024 that it will invest up to RM277 million in the Zhoushan gas plant.
Genting shares closed up three sen or 1% at RM3.08 on Tuesday, giving the group a market capitalisation of RM11.94 billion.