Power Integration Deal Expected To Be Sealed In 6 Months: Malaysian Minister

KUALA LUMPUR, Oct 7 (Bernama) -- The Memorandum of Understanding (MoU) among Laos, Thailand, Malaysia and Singapore (LTMS) on the Power Integration Project (PIP) will not be signed during the 33rd ASEAN Ministers On Energy Meeting (AMEM) due to certain reservations at the Singapore level, said Malaysian Minister of Energy, Green Technology and Water Dr Maximus Ongkili. Ongkili said he is convinced that the MoU would be inked in the next six months. "For now, Singapore needs more time because they need to go through a transparent and competitive bidding process. This PIP pilot project is carried out in two phases, where under phase one Laos, Thailand and Malaysia can embark on this project with Malaysia buying the proposed 100 megawatts from Laos and Thailand," he said. He was speaking to reporters after delivering his speech at the opening of the 33rd ASEAN Ministers on Energy Meeting & Associated Meeting (AMEM) here Wednesday. The project aims to explore cross-border power trade involving LTMS, endorsed during the 32nd AMEM held on Sept 23, 2014 in Vientiane, Laos. Ongkili said the multilateral transaction would be easier to conclude as the electricity utilities in Laos, Thailand and Malaysia are vertically integrated and only a power puchase agreement (PPA) needs to be signed. --BERNAMA