KLANG, Sept 30 — The Pulau Indah Power Plant (PIPP) now supplies electricity to more than 1.2 million homes and businesses in the Klang Valley, said Worldwide Holdings Bhd group chief executive officer cum executive director Datin Paduka Norazlina Zakaria.
The project was completed on time and within budget despite technical, financial, and global challenges, including the Covid-19 pandemic, floods, and other weather-related disruptions.
"Looking at what we have achieved together, this is not just a power plant; it is the result of years of teamwork, commitment, and a shared purpose to build something meaningful for the state and the nation," she said during the PIPP inauguration ceremony today.
Norazlina added that the facility is among the most efficient in the region, producing more power with fewer emissions, in line with Malaysia's National Energy Transition Roadmap (NETR).
She expressed pride at the achievement, as the PIPP is particularly significant since it was developed from the ground up by a state-owned company.
"We are the first state government-linked company to deliver an independent power producer project from start to finish, and now to manage full operations and maintenance with our own expertise. This journey has allowed us to develop technical capabilities and nurture talent within Selangor," Norazlina said.
She noted that the plant's strategic location allows it to provide competitive electricity tariffs to local industries.
On September 10, Malaysia Rating Corporation Bhd assigned a strong AA+IS rating to PIPP's proposed RM3 billion Sukuk Wakalah bond programme, citing guaranteed income from its long-term contract with Tenaga Nasional Bhd (TNB), an operational plant, and projected revenue of around RM1.3 billion in 2025.
Worldwide Holdings, the project’s majority shareholder, is already expanding its renewable energy portfolio with large-scale solar projects, mini-hydro plants, and waste-to-energy facilities in Jeram and Kuala Langat, as well as new ventures in hydrogen and floating solar.
The 1,200-megawatt PIPP is a joint venture between Worldwide Holdings Berhad (75 per cent) and Korea Electric Power Corporation (Kepco) (25 per cent). It marks Kepco's first investment in Malaysia's energy sector.
