KUALA LUMPUR: Hibiscus Petroleum Bhd has signed a heads of agreement (HoA) with Seri Pajam Development Sdn Bhd (SPD) to explore power generation and energy solutions projects.
The agreement, signed on Sept 30, establishes an exclusive collaboration framework to evaluate and develop projects involving gas turbines, gas engines, solar power and carbon capture systems on land owned by SPD and its affiliates.
Hibiscus Petroleum said the collaboration supports its Hibiscus 3.0 strategy to diversify into energy transition and adjacent energy businesses while retaining oil and gas as its core business.
The group identified SPD Tech Valley in Senawang as a strategic industrial park for potential data centre developments, which could be supported by a domestic power plant facility.
The HoA builds on a letter of collaboration signed on Sept 30, 2025, between Hibiscus Petroleum, Sime Darby Energy Solutions Sdn Bhd, Kawasaki Gas Turbine Asia Sdn Bhd and Kawasaki Heavy Industries Ltd.
The collaboration combines engineering, procurement, construction and commissioning capabilities with gas engine and gas turbine combined-cycle power technologies, enabling Hibiscus Petroleum to offer services spanning project development to long-term operations.
Hibiscus Petroleum senior vice-president of strategic initiatives Chong Chee Seong said the partnership was an important step in the group's transformation, as data centres and artificial intelligence workloads require reliable, efficient and increasingly low-carbon power.
"By extending our expertise into distributed power generation, we aim to meet that demand while creating opportunities for additional, more stable revenue streams for our shareholders," he said.
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