KUALA LUMPUR (Feb 9): Hibiscus Petroleum Bhd (KL:HIBISCS) is set to deliver its first power from its first ground-mounted solar farm in Brunei by year end, marking a key step in its plan to diversify into energy transition projects by 2030. 

The 12MWp solar farm, located on a 26-acre site at Sungai Liang Industrial Park, held its groundbreaking ceremony on Monday, according to a statement by the company.

Managing director Datuk Dr Kenneth Gerard Pereira said the project strengthens Hibiscus’ presence in Brunei, supports the local energy ecosystem, and provides a platform for future power generation projects. Brunei’s Deputy Minister (Energy) Dato Seri Paduka Awang Haji Mohamad Azmi Haji Mohd Hanifah described the solar project as an important move towards sustainable and resilient energy development, highlighting the country’s commitment to renewable energy in its oil and gas sector.

In a separate statement, Progressture Power (B) Sdn Bhd announced that it has been appointed as the engineering, procurement, construction, commissioning and operations & maintenance contractor for the solar project. The clean energy provider will ensure system performance, reliability and asset longevity throughout the plant’s operational life.

In April 2025, Hibiscus’ unit secured US$100 million (RM393.15 million) in Islamic financing to support its growth in Brunei. Earlier, in October 2024, the company acquired TotalEnergies EP (Brunei) BV, becoming an operator and taking a 37.5% stake in the Block B Maharajalela Jamalulalam gas field, a producing asset since 1999. The deal increased gas to nearly 50% of Hibiscus’ total production.

Hibiscus share price closed two sen or 1.38% higher at RM1.47 on Monday, valuing the company at RM1.08 billion. The stock is down nearly 2.7% year to date.