Solarvest-GFM consortium bags RM30m solar infra project in six UiTM campuses

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KUALA LUMPUR (July 1): A consortium involving Solarvest Holdings Bhd and GFM Services Bhd has secured a RM30 million contract for the engineering, procurement, construction and commissioning of solar photovoltaic (PV) infrastructure in six UiTM campuses in Peninsular Malaysia.

In a filing today, Solarvest said the contract was secured by a consortium between its wholly-owned unit Atlantic Blue Sdn Bhd and GFM Services' wholly-owned unit Global Facilities Management Sdn Bhd.

The contract, issued by Go Energy Sdn Bhd (previously known as Talent Cloud Sdn Bhd), involves cumulative plant capacity of 11,057 kilowatt peak.

The campuses are UiTM Permatang Pauh in Pulau Pinang, UiTM Kuala Pilah in Negeri Sembilan, UiTM Alor Gajah in Melaka, UiTM Dungun in Terengganu, UiTM Jengka in Pahang, and UiTM Segamat in Johor.

Work for each campus is expected to be completed within two months from the date of commencement. The project will contribute to Solarvest's financial performance for the year ending March 31, 2021.

Shares of Solarvest climbed four sen or 2.58% to RM1.59 at market break with 6.55 million shares traded, valuing the group at RM621.09 million. The counter has nearly tripled from a low of 54 sen on March 19.

GFM Services shares rose one sen or 5.26% to 20 sen at noon break, valuing the management consultancy group at RM103.9 million.