KUALA LUMPUR (Jan 13): Eden Inc Bhd (KL:EDEN) said on Monday that it has been selected to develop a 29.99-megawatt (MW) large-scale solar photovoltaic plant in Gebeng, Kuantan.

In a bourse filing, Eden said that its wholly owned subsidiary, Daya Cipta Sdn Bhd, accepted the letter of notification from the Energy Commission on Jan 10.

According to the letter, the plant's maximum export capacity must not exceed 29.99MW, and it will operate under a 21-year solar power purchase agreement with Tenaga Nasional Bhd (KL:TENAGA).

The scheduled commercial operation date is set for no later than July 28, 2027.

Eden plans to finance the project through a combination of bank borrowings and internally generated funds. It expects the project to contribute positively to the company’s future earnings and net assets upon commissioning and subsequent operations.

In a separate statement, Eden said the plant — part of the Large Scale Solar 5 (LSS5) programme — will be located on the company’s land in the rapidly growing Gebeng industrial hub. The project will support local development and benefit from its proximity to key infrastructure, including the East Coast Rail Link and the expansion of Kuantan Port, the company said.

It noted that the area is also near major industrial hubs such as the Gebeng Integrated Petrochemical Complex and Malaysia-China Kuantan Industrial Parks, which house companies like BASF and Petronas.

"This project exemplifies Eden’s extensive experience of more than two decades of successful operations in the renewable energy sector, underscoring Eden’s continuing commitment to expand the contracted capacity of its renewable energy portfolio and contribute meaningfully to Malaysia’s sustainability goals," the statement read.

Eden is involved in the food and beverage, tourism, property, and energy sectors.

Eden shares closed unchanged at 17 sen on Monday, giving the company a market capitalisation of RM85.9 million.