Malakoff Corporation Bhd has received approval from the Energy Commission to extend the operations of its three gas-fired power plants, with a combined capacity of 2,082MW, until December 31, 2029.
The extension ensures these plants continue supplying electricity to the national grid, supporting Malaysia’s growing energy needs during periods of sustained demand and the ongoing energy transition.
The approval covers:
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The 1,303MW Combined Cycle Gas Turbine (CCGT) plant in Lumut, Perak, owned by Segari Energy Ventures Sdn Bhd (SEV);
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The 429MW Open Cycle Gas Turbine (OCGT) plant in Lumut, Perak, owned by GB3 Sdn Bhd (GB3); and
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The 350MW CCGT Prai Power Plant in Pulau Pinang, owned by Prai Power Sdn Bhd (PPSB).
New Power Purchase Agreements (PPAs) will be signed with Tenaga Nasional Bhd (KL:TENAGA), allowing Malakoff to continue generating and supplying electricity throughout the extension period.
Commenting on the approval, Malakoff Group CEO Syahrunizam Tan Sri Samsudin said the extensions will enable these proven gas-fired facilities to provide reliable and flexible capacity, particularly during periods of high demand. “This supports national energy security while maximising the value of existing infrastructure in a cost-efficient manner,” he added.
He also noted that CCGT and OCGT plants like these remain vital during the energy transition, offering efficient and responsive generation to complement renewable sources. The continued operations reflect the company’s disciplined maintenance and operational standards over the years.
The SEV Lumut plant began operations in 1996, the GB3 Lumut plant in 2001, and the Prai Power Plant in 2003. Together, these three plants form a long-standing generation base that has reliably supported Peninsular Malaysia’s electricity supply.
With a combined capacity of 2,082MW, the plants provide dependable and flexible generation, helping maintain grid stability and reserve margins, especially during peak electricity demand. The extensions are also expected to contribute positively to Malakoff’s earnings and net assets over the coming years.
