Solarvest Clinches 2nd Consecutive Contract Win Worth RM87.5 Million

Solar photovoltaic (“PV”) system specialist, Solarvest Holdings Berhad(“Solarvest” or “the Group”) continued its winning streak and clinched its second consecutive contract win worth RM87.5 million to undertake the main engineering, procurement, construction, and commissioning (“EPCC”) works for a 20.76-megawatt (“MW”) large scale solar photovoltaic plant (“LSSPV Plant”) in Kulim, Kedah.

The contract was secured from Energy ES Sdn. Bhd. (“Energy ES”), a consortium comprising of Savelite Engineering Sdn. Bhd., Moderntent Development Sdn. Bhd., and Frasers Construction (M) Sdn. Bhd.

Group Chief Executive Officer of Solarvest, Davis Chong Chun Shiong said, “We are delighted to expand our exposure in the national LSS programme to unlock more green energy to serve the local communities. Solarvest has grown alongside with 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, second project under the LSS4 scheme.”

With this contract win, Solarvest’s total orderbook for EPCC works under the LSS4 programme now stands at RM130.4 million.

“We hope to further increase our market share in the LSS4 programme in the coming months as shortlisted bidders are in the advanced stages of awarding the EPCC contracts out. In total we have a tender pipeline of RM600 million to RM700 million worth of projects under the LSS4 programme alone.”

“In addition to that, our Commercial and Industrial segment is also growing rapidly with robust project orders. The increasing focus in Environment, Social and Governance (ESG) practices among businesses has been one of the key growth drivers. The surge in demand from both segments bolstered our total unbilled orderbook to new heights at RM315.5 million. We believe the momentum will be sustained considering the active tenders flow in the region right now. To date our tenderbook enlarged to approximately 1,000MWp worth of projects across Malaysia, Taiwan and Philippines,” he added.

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