Solarvest bags RM175m contract to build largest solar farm in Perlis

Solarvest bags RM175m contract to build largest solar farm in Perlis
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KUALA LUMPUR (Sept 1): Clean energy specialist Solarvest Holdings Bhd unit Atlantic Blue Sdn Bhd has secured a RM175 million contract to build a solar photovoltaic (PV) energy generating facility in Chuping, Perlis. 

In a bourse filing today, Solarvest said its unit had been appointed the engineering, procurement, construction and commissioning (EPCC) contractor for the development of the 50MW solar PV facility and received the project from Classic Solar Farm Sdn Bhd.

Pursuant to the EPCC contract, the Solarvest unit is to undertake the development, design, engineering, fabrication, procurement, construction, installation, commissioning, testing, delivery, completion and rectification of all defects in the solar PV system and all associated infrastructure. 

In a separate statement, Solarvest group chief executive officer (CEO) Davis Chong Chun Shiong said that the project is expected to be the largest solar power plant in Perlis with its clean energy generation slated to offset approximately 78,450 tonnes of CO2 annually upon commencement.

“We are thrilled to be entrusted to build yet another landmark project and help unlock clean energy from the northern region. With this project win, our unbilled order book has increased to RM583 million, one of the largest solar EPCC order books in Malaysia today,” he added.

Chong noted that the group would have a busy year ahead as it steadfastly grows its market share across all its key market segments.

“The group is collectively tendering for approximately 1,000MWp of projects across our Malaysian, Taiwan and Philippine operations. 

“In tandem with the growth plans, we are scaling up our workforce to cater to rising demand. It is noteworthy that during these challenging times, Solarvest continues to create more job opportunities and contribute positively to the local economy.

“This further strengthens our confidence that renewable energy will continue to play an important role in fulfilling the economic recovery in Malaysia,” he added.

At the noon break today, Solarvest shares were one sen or 0.72% lower at RM1.37, valuing the group at RM909.62 million.

Surin Murugiah