Eden Inc which is involved in multiple types of business from food and beverage to manufacturing and energy has entered into Power Purchase Agreement via its subsidiary Statravest with Sabah Electricity.
This new agreement will mean that Stratavest an IPP will be able to supply power to the Sabah grid for another 3 years, giving the Libaran Power Station an extension after it completed the 21 year obligation under the initial agreement which ended in December 2019.
In ensuring that the electricity demand for the East Coast State of Sabah is met, the Energy Commission had on June this year approved the recommencement of the operation of the Libaran Power Station with the contracted net capacity of 30 Megawatt (“MW”) for the new term of 3 years.
Libaran Power Station is the only Independent Power Producer (“IPP”) in the country developed using low-speed diesel Man B&W engines it has been able to generate electricity with high efficiency and good reliability for a minimum period of 30 years. The extension wad given due to the stability of the plant and the well managed team.
Taking into account the Sabah State Grid’s requirements and the immediate future generation capacity in the East Coast State of Sabah, STV anticipates that the current term of the agreement to contribute positively to the groups performance.
The deal also requires the plant to operate with the maximum Load Factor of 52%. This requirement for the Peak Load demand would enable the plant to comfortably fulfill all its required obligations.