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THE government has approved the proposal for Tenaga Nasional Bhd (TNB) and Sarawak Energy Bhd (SEB) to jointly take over the operation of the Bakun Hydroelectric project from Sarawak Hidro Sdn Bhd.
The takeover will be done through a leasing agreement and the joint partners will now develop the transmission system from Sarawak to Peninsular Malaysia. "The board of directors of both companies have resolved to proceed with the project and commence negotiations with the relevant authorities," said TNB and SEB in separate announcements on Bursa Malaysia yesterday.
Construction of the 2,400 megawatts (MW) Bakun plant is almost completed.
The plan is to …