Solarvest's sunny outlook continues as it bags RM87 mln job

KUALA LUMPUR, July 15  -- Solarvest Holdings Bhd has bagged a contract worth RM87.5 million to undertake the main engineering, procurement, construction, and commissioning (EPCC) works for a 20.76-megawatt (MW) large scale solar (LSS) photovoltaic plant in Kulim, Kedah.

The job secured from ES Energy Sdn Bhd -- a consortium comprising Savelite Engineering Sdn Bhd, Moderntent Development Sdn Bhd, and Frasers Construction (M) Sdn Bhd -- marked its second consecutive contract win under the fourth cycle of the LSS programme (LSS4), the group said.

Group chief executive officer Davis Chong Chun Shiong said the contract would help expand the group’s exposure to the national LSS programme and unlock more green energy to serve local communities.

“Solarvest has grown alongside the LSS programme since its formation, and we look forward to seeing the continuation of the programme as it plays a crucial role in driving the growth of the local solar industry.

“We are pleased to note that this new project win marks our 11th LSS project, and the second project under the LSS4 scheme,” he said in a statement today.

He noted that with this contract win, Solarvest’s total orderbook for EPCC works under the LSS4 programme now stood at RM130.4 million.

The group also hoped to further increase the market share in the LSS4 programme in the coming months as shortlisted bidders were in the advanced stages of awarding the EPCC contracts, he said.

“In total, we have a tender pipeline of RM600 million to RM700 million worth of projects under the LSS4 programme alone,” Chong shared.

Further to that, he said the group’s commercial and industrial segment was also growing rapidly with robust project orders as the increasing focus in the environment, social and governance (ESG) practices among businesses had been one of the key growth drivers.

“The surge in demand from both segments bolstered our total unbilled orderbook to RM315.5 million. We believe the momentum will be sustained considering the active tenders flow in the region right now.

“To date, our tender book has enlarged to approximately 1,000 MW worth of projects across Malaysia, Taiwan and Philippines,” he added.




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