BM GreenTech Bhd has expanded its renewable energy footprint with the acquisition of NEFIN V Power Sdn Bhd (NVP) for RM3.6 million, securing full ownership of a 29.99MWac solar photovoltaic (PV) project under Malaysia’s Corporate Green Power Programme (CGPP).
The acquisition, undertaken via its subsidiary Plus Xnergy Holding Sdn Bhd, gives BM GreenTech a strategic upstream position in a utility-scale solar asset expected to generate around 60,000 MWh of clean energy annually, while avoiding more than 1.1 million tonnes of carbon emissions over its 25-year lifespan.
NVP has already secured long-term offtake agreements with Fortune 500 companies in the semiconductor and food sectors, providing a stable recurring income stream for Plus Xnergy starting 2027 upon commissioning of the solar plant.
BM GreenTech Group Managing Director Chia Lik Khai said the deal marks a step forward in the group’s strategy to move up the value chain and strengthen revenue visibility, as Malaysia’s utility-scale renewable energy (RE) segment continues to emerge.
He added that the acquisition positions the group among early movers in corporate RE supply, complementing its engineering, procurement, construction and commissioning business while expanding its Develop, Build, Own and Operate model.
The purchase will be funded via internally generated funds, with RM3.24 million paid for a 90% stake from NEFIN Energy (Malaysia) Sdn Bhd and RM360,000 for the remaining 10% from NEFINCO (Malaysia) Sdn Bhd, settled in two tranches.
Post-acquisition, Plus Xnergy will transition from EPC contractor to long-term owner-operator of the solar asset, strengthening its integrated generation, efficiency and storage strategy.
The acquisition lifts BM GreenTech’s pipeline of recurring income-generating RE assets to 74MWp, further reinforcing its position in Malaysia’s growing clean energy ecosystem, which already includes over 510MWp of solar projects and 100MWh of battery storage capacity across its portfolio.
