SINGAPORE -�Media OutReach�- 30 July 2021 -Tuas Power, Singapore's market leader in power generation and electricity retailing, signed a Memorandum of Understanding earlier in June with NEFIN, a leading solar photovoltaic developer and investor in carbon neutrality solutions, to jointly bid for the 100 megawatts (100MW) of zero-carbon electricity import from Malaysia into Singapore.�

To support the Singapore Government's move to enhance energy security through leveraging on regional power grids, Tuas Power and NEFIN are participating in this initiative with the aim to help overcome the challenges of clean energy import and to develop best practices for the industry.

Mr. Michael Wong, Chief Operating Officer of Tuas Power, said, "Tuas Power is taking a wholistic view to find a sustainable and reliable blend of electricity generated from renewable and fuel-based sources to feed into the national grid. Arising from our sustainable energy eco-system approach, Tuas Power is actively exploring the combined use of solar power and other renewable sources or low-carbon solutions to achieve a zero-carbon electricity import. At the same time, we are exploring solutions that address the intermittency of solar power during non-generating hours."�

Tuas Power is Singapore's leading electricity retailer, and is committed to bringing cleaner, more cost-competitive energy to its customers. With its knowledge and experience, Tuas Power has helped them develop and implement many energy efficient programmes. It has a large pool of customers from the data centre, semiconductor and petrochemical industries who are interested to take up the clean energy import.

Mr. Bor Hung Chong, NEFIN's Head of Business Development and Managing Director for NEFIN Malaysia, commented, "NEFIN is a market leader in distributed solar project development in Malaysia. We have a track record of many customers who have signed up to 20 years of Power Purchase Agreements (PPA) with us, and we are excited to partner Tuas Power to foray into electricity imports into Singapore. If successful in our joint bid, it will allow NEFIN to bring its extensive experience in implementation of renewable energy projects and provision of carbon-neutral solutions to sustain the energy landscape of Singapore."

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NEFIN Malaysia is a Malaysian company under the project development arm of the wider NEFIN Group and specialises in project development and implementation of renewable energy projects in the Southeast Asia region, with Malaysia as one of NEFIN Group's key markets. NEFIN Malaysia is a market leader in providing zero-carbon solutions, including distributed solar project development and has developed several iconic projects such as the largest commercial solar PPA in Malaysia of more than 10 selected Lotus's (formerly TESCO) stores in its first phase and the completion of the first solar PV project for Puratos Group in Malaysia. NEFIN Malaysia also provides carbon neutrality related consulting and technical advisory services for its clients.

About Tuas Power Ltd

Tuas Power is a key provider of energy solutions and multi-utilities in Singapore. The company is a member of China Huaneng Group, one of the largest and most forward-looking power producers in China and the world.

Tuas Power has a licensed capacity of 2,670 MW, and is a leading power generation company in Singapore. It has five combined cycle plants and a steam plant in its power station in the Tuas industrial region, and develops efficient and environmentally responsible energy solutions through its retail arm. Tuas Power also supplies utilities such as steam, high-grade industrial water, demineralised water and waste water treatment services in Tembusu, Jurong Island, and provides solid industrial waste treatment through its waste-to-resource plant in Tuas.

About NEFIN Group

NEFIN Group is a regional renowned carbon neutrality solutions provider and investor with a bespoke unified energy management platform committed to achieve carbon neutrality for organizations. Founded by a core management team of DuPont Solar Business, the management team has grown into a well-rounded team of engineers, legal experts, investment bankers and techno-commercial experts with the combined experience of over 40+ years of project development in Asia and 50+ years of engineering experience. NEFIN Group has collectively delivered over 300MW of utility-scale, commercial, and industrial rooftop solar systems regionally. As a strong cohesive team, NEFIN Group is able to offer a comprehensive 360 degree assessment and full-suite of services on socially responsible and commercially viable projects through innovative approaches to technology under its unified energy management platform. NEFIN believes the future of the world is everyone's responsibility and strives to redefine energy boundaries towards a sustainable future. Please refer to NEFIN's website www.nefinco.com for more information.

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