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HNG Capital’s Power Division was founded 20 years ago when its subsidiary, Cambodia Utilities Pte Ltd (“CUPL”), signed the first IPP concession agreement in Cambodia with the country’s 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 the city’s network capabilities to enable the distribution of power throughout Phnom Penh city.
Since then, the power division of HNG Capital has evolved, expanded and grown its business through the setting up of more subsidiary companies to fully manage projects in Cambodia and in the region:
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. This project was successfully commissioned in 2013. 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 a 30 years’ tenure. This coal-fired power plant is expected to be in commercial operation towards end 2019 and will bring the Group’s operating coal-fired power plant capacity to 235MW nett.
In line with our vision to participate in renewable energy, 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 with a total generating capacity of 49.5MW, and is located in Lao Cai province which is some 220 km northwest of Hanoi.
Solar Photovoltaic Power Plant
In December 2016, the Group secured a 21-year concession to Build-Own-Operate a 29MWac solar photovoltaic power plant in Sungai Petani, Kedah, Malaysia. The expected date of commercial operation is mid 2018. This project will further enhance the Group’s vision to expand its portfolio of renewable energy.
With various projects coming on stream, the Group’s portfolio of generating power assets will be in excess of 300MW by year 2020 and located across various countries in Southeast Asia. The Group will continue to aggressively pursue power generation projects, as well as the operation and maintenance of power plants throughout Southeast Asia as part of our vision to position ourselves as a boutique regional power player.
Leader Energy aims to be a leading provider of reliable, clean and affordable electrical energy to power up cities and nations through sustainable and innovative practices.
Leader Energy’s mission statements: