Malaysian Billionaire Francis Yeoh’s YTL Power Buys Singapore Gas-Fired Plant For About $200 MillionYTL Power International — controlled by Malaysian tycoon Francis Yeoh and his siblings — has completed the
acquisition of a gas-fired power plant that was built by bankrupt water treatment firm Hyflux.
The Malaysian utility company said Wednesday that its Singapore-based unit
YTL PowerSeraya paid S$270 million ($196.5 million) to acquire the 396-megawatt combined cycle gas turbine power plant from Tuaspring, less than the original consideration of S$331.45 million.
The acquisition of the Tuaspring power plant will boost YTL Power’s presence in the Asian financial hub where it has a licensed electricity
generating capacity of up to 3,100 megawatts.
The power plant — which was part of the desalination plant
built in 2013 by Hyflux in Tuas in western Singapore near the border to Malaysia — was commissioned in 2016.
