Genting Berhad has announced the formal transfer of its 49%-owned indirect joint-venture asset, the 2x393MW subcritical coal-fired Meizhou Wan Power Plant (Phase I), to Fujian Investment & Development Group Co Ltd. The handover was finalised on 30 June 2025 through SDIC Genting Meizhou Wan Electric Power Company Ltd (SDICG MZW).
The plant, which has been operational since 1 January 2004, was managed under a 21.5-year build-operate-transfer (BOT) power purchase agreement. The conclusion of this agreement marks a significant step in Genting’s broader strategy to transition away from coal-fired power generation, aligning with the group’s long-term focus on developing a more sustainable and cleaner energy portfolio.
Despite the divestment of Phase I, SDICG MZW will retain full ownership and operation of the 2×1,000MW ultra-supercritical Meizhou Wan Phase II plant. Operational since 2017, Phase II employs advanced generation technologies and continues to meet all prevailing environmental regulatory requirements.
Genting reaffirmed its commitment to cease future coal-based developments but emphasised its intention to manage its existing coal-fired assets responsibly through to the end of their operational life.
“This prudent and balanced approach allows the company to manage its legacy assets responsibly,” Genting stated.
In alignment with its strategic shift, Genting’s power division remains actively engaged in identifying high-value investment opportunities across the renewable and clean energy sectors, supporting the global transition towards decarbonised energy systems.
This direction is underscored by its recent collaboration with SDIC Power Holdings Co Ltd on the 120MWp Dongwucha aquaculture-complementary solar power plant project in China. The project reflects the group’s evolving energy strategy and ongoing commitment to sustainability.
Genting Berhad’s shares ended slightly higher at RM3.08 on the day of the announcement.
-The Star
