KUALA LUMPUR (March 3): Eden Inc Bhd (KL:EDEN) announced on Monday that its Libaran power plant in Sandakan will continue supplying power to Sabah’s east coast for another two years with a 50% increase in capacity.

Stratavest Sdn Bhd, which runs the plant, has signed a power purchase agreement (PPA) with Sabah Electricity Sdn Bhd for the extension that comes with 15 megawatts (MW) more capacity, bringing capacity up to 45MW.

The new PPA will remain in effect until Feb 27, 2027. No contract value was disclosed.

Eden said the first two generating units of 15MW capacity each began operations at end-February 2025. The third unit, which will contribute an additional 15MW to the grid, is scheduled to come online by Sept 1.

The Libaran power plant’s initial 21-year term PPA ended in August 2021. It was given a three-year extension at a contract sum of RM46 million, which ended on Feb 28, 2025.

Eden said the power plant is the only independent power producer in Malaysia using low-speed Mitsui-MAN B&W diesel engines that are recognised for their high efficiency and long-term reliability.

Eden said the term extension and capacity expansion continue to position its energy businesses as pivotal drivers of the group’s growth and prospects.

The company remains focused on its efforts to play a significant role in Sabah’s energy development, and has begun exploring renewable energy opportunities in the state, it said.

At 2.43pm on Monday, Eden shares were unchanged at 16.5 sen, giving it a market capitalisation of RM83.4 million.