News

Eden recommences operation of Libaran Power Station for 3-year term

KUALA LUMPUR, Aug 16 -- Eden Inc Bhd’s wholly-owned subsidiary Stratavest Sdn Bhd (STV) has entered into a power purchase agreement with Sabah Electricity Sdn Bhd to further extend the operation of Libaran Power Station for another three years. 

In a filing with Bursa Malaysia today, the group said the STV’s Libaran Power Station in Sandakan, Sabah had successfully fulfilled its obligations under the initial power purchase agreement for the 21-year term, up until Dec 17, 2019.

In ensuring that the electricity demand for the east coast state of Sabah is met, the Energy Commission had on June 2, 2021 approved the recommencement of the operation of the Libaran Power Station with the contracted net capacity of 30 Megawatts for the new term of three years via the approval letter.

Libaran Power Station is the only independent power producer in the country developed using low-speed diesel Man B&W engines that has been proven to be able to generate electricity with high efficiency and good reliability for a minimum period of 30 years.

“Due to the capability of the plant and the experienced team, the decision of the Energy Commission to approve the recommencement of the operations of Libaran Power Station will ensure that the demand of electricity for Sabah will continuously be met for the next three-year term.

“Taking into account the Sabah State Grid’s requirements and the immediate future generation capacity in Sabah, STV anticipates that the current term of the agreement shall be further extended, subject to the approval of the relevant parties,” it said.

Eden said the recommencement of the operations of the Libaran Power Station is expected to contribute positively to the performance of the group during the three-year term.

-- BERNAMA

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