PETALING JAYA: Petronas Gas Bhd
(PGB) has entered into shareholders agreements with Sabah Electricity Sdn Bhd and Sabah Energy Corp Sdn Bhd to develop a new power plant with a capacity of 120 megawatts in the Federal Territory of Labuan.
In a filing with Bursa Malaysia, PGB said the project is pursuant to a letter of notification dated Feb 21 from the Ministry of Energy Transition and Water Transformation.
“The parties intend to collaborate via a joint venture company, namely, Rancha Power Sdn Bhd, for the design, development, construction, installation, testing, commissioning, ownership, operation and maintenance of the said power plant and associated facilities with target of commercial operation date no later than Jan 1, 2028.”
PGB said the project aligns with its strategy to expand its presence in the energy sector and contribute to sustainable energy development in Malaysia.
“This project is expected to enhance the energy supply in Federal Territory of Labuan and Sabah as part of Sabah Energy Roadmap and Master Plan 2040.
“The project will be funded through internally generated funds and external financing,” it said.
