POWERING UP OPPORTUNITIES
MORE THAN 20 YEARS OF IPP EXPERIENCE AND PAVING THE PATH TOWARDS A RENEWABLE FUTURE
HNG Capital’s Power Division started off 20 years ago when its subsidiary, Cambodia Utilities Pte Ltd (“CUPL”) signed the first IPP concession in Cambodia with its electricity provider, Electricite du Cambodge (“EdC”) to design, engineer, finance, supply, construct, erect, test, commission, own, operate, manage, maintain and transfer a diesel power generating plant of 37.1MW gross capacity. Besides the power generating plant, CUPL was also required to design, supply and upgrade its power transmission capabilities to enable distribution of power throughout Phnom Penh city.
Since then, the power division of HNG Capital has evolved, expanded and grown its business through its internal expertise and the setting up of the following subsidiary companies that aim to fully manage projects and various aspects of the electric power industry in Cambodia:
Diesel Engine Power Plant
The Group’s journey in the power generation business started more than 20 years ago when it secured the first Independent Power Producer (IPP) project in Cambodia in 1994 for an 18-year concession to build-operate-transfer a 35MW diesel engine power plant in Phnom Penh, Cambodia. As of today, the Group continues to operate and maintain this power plant located in the capital city for the national utility in Cambodia.
Coal-Fired Power Plant
In 2009, the Group managed to secure a second IPP project in Cambodia for a 30-year concession to Build-Own-Operate a 100MW coal-fired power plant in SteungHav, Preah Sihanouk province. Riding on our successful operating track record, the Group secured a third IPP project in 2016 to Build-Own-Operate a 135MW coal-fired power plant in SteungHav, Sihanouk province for 30 years. This coal-fired power plant is expected to commence commercial operation by the end of 2019 or beginning of 2020 and will bring the Group’s operating coal-fired power plant capacity to 235MW.
In line with our vision to pave the way towards sustainable power generation, the Group had in 2016 acquired a majority and controlling stake in Leader Nam Tien Hydropower Joint Stock Company in Vietnam. The hydropower project comprises five hydropower plants in Lao Caiprovince, located in North-West Vietnam , with a total generating capacity of 49.5MW. The Group is expanding its portfolio for renewable energy.
Solar Photovoltaic Power Plant
In December 2016, the Group has secured a 21-year concession to Build-Own-Operate a 29MWac Large Scale Solar Photovoltaic Plant in Sungai Petani, Kedah, Malaysia. The solar farm has fully completed its construction and operated since Q4'18. During 2017, the Group has secured their second Large Scale Solar Photovoltaic Plant Project for 21-year concession to Build-Own-Operate a 20MWac solar farm project. The second project is under construction, expecting will be completed and start its operation by end of 2019.
With various projects coming on stream, the Group’s portfolio of generating power assets will be in excess of 300MW by year 2020 and locating across various countries in Southeast Asia. In addition to the operation and maintenance of its power plants, the Group is aggressively pursuing power generation projects throughout Southeast Asia as part of the vision to position HNG Capital as a regional power player.