KINERGY Advancement Bhd’s (KINERGY) third energy infrastructure project awarded by Rancha Power Sdn Bhd – development of the 120-megawatt (MW) power plant – has formally reached a key milestone with a formal commencement of the execution phase in Labuan on Tuesday (Jan 27).
The ground-breaking ceremony of the engineering, procurement, construction and commissioning (EPCC) project was officiated by Deputy Prime Minister (DPM) Datuk Seri Fadillah Yusof who is also the Energy Transition and Water Transformation Minister.
The 120MW power plant which is scheduled for commercial operation by Jan 1, 2028 will significantly strengthen Labuan’s electricity supply with firmer and faster response capacity.
The plant’s addition is expected to improve overall grid stability and reliability by supporting sustained economic and industrial activity while complementing the integration of sustainable energy.
Moreover, the construction process which is slated to commence in 1Q 2026 will create employment opportunities for the local community during this stage.
Upon completion, the project will ensure continuity and reliability of electricity supply and support Labuan’s future energy needs across residential, commercial and industrial sectors while re-affirming KINERGY’s position as a power plant EPCC specialist and trusted technical partner for national-grade energy assets.
The construction of the 120MW power plant will be undertaken by the KINERGY -Sinohydro JV, which is a strategic partnership between the group’s wholly owned subsidiary KAB Energy Holdings Sdn Bhd and Sinohydro Corp (M) Sdn Bhd.
Rancha Power is a three-party joint venture among PG Energia Sdn Bhd (a subsidiary of Petronas Gas Bhd), SEC Power Sdn Bhd (a subsidiary of Sabah Energy Corp Sdn Bhd) and Sustainable Power Sdn Bhd (a subsidiary of Sabah Electricity Sdn Bhd).
“Within just eight years of expanding into the Sustainable Energy Solutions (SES) segment, the KINERGY Group has established a credible and growing execution track record,” commented KINERGY’s group managing director Datuk Lai Keng Onn.
“Aligned with the Sabah Energy Roadmap and Master Plan 2040, our second major gas-fired power plant development will further cement KINERGY Group’s technical track record through the delivering of another facility for key stakeholders such as Petronas Gas and Sabah Electricity (following the 72MW Sipitang gas engine power plant).”
Added Lai who is also KINERGY’s executive deputy chairman:
“Following its Bursa Malaysia sector re-classification from Industrial Engineering to Renewable Energy, KINERGY now operates with a diversified energy mix portfolio supported by proven EPCC capabilities in delivering complex, large-scale energy infrastructure.
“The group continues to demonstrate its evolution from a traditional electrical engineering contractor into a maturing technical energy player with proven full-cycle delivery capabilities.”
At the closer of today’s (Jan 29) mid-day trading break, KINERGY was unchanged at 38 sen with 3.68 million shares traded thus valuing the company at RM830 mil. – Focus Malaysia
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