PUTRAJAYA, July 12 — Putrajaya is set to cancel four new Independent Power Producer (IPP) projects that were approved by the previous government.
Another four new ones are also under review, the Science, Technology, Climate Change and Environment Ministry confirmed today.
The Science, Technology, Climate Change and Environment Minister Yeo Bee Yin said that the four IPPs, whose cancelation is expected to be ratified by the Cabinet next week, are "not needed" and will not incur the government any extra compensation cost.
The other four IPPs, which are also new projects, are currently under review to determine the viability and costs involved.
A decision regarding them could also be made in the coming week, Yeo said.
All eight IPP projects were awarded via direct negotiations.
“These are the four that the Ministry has identified can be cancelled, as they are the easiest to cancel,” Yeo said.
She said that only one of the four firms who won the IPP deal is a public listed company.
“I will reveal the names of the companies next week once it is finalised by the Cabinet,” she added.