Clean energy specialist, Solarvest Holdings Berhad has today secured another large-scale solar (“LSS”) project worth RM175 million under the LSS@Mentari program. The new contract was awarded by Classic Solar Farm Sdn. Bhd. for the development of an LSS plant in Chuping, Perlis.
The Group will undertake the main engineering, procurement, construction, and commission (“EPCC”) works for the 50 megawatts (MW) solar farm. Inclusive of the latest contract, Solarvest’s new EPCC orders secured from the LSS@Mentari program grew to approximately RM371 million.
Group Chief Executive Officer of Solarvest, Mr. Davis Chong Chun Shiong (张俊雄) said, “This project is expected to be the largest solar power plant in Perlis which the clean energy generation will offset approximately 78,450 tonnes of CO2 per year 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, probably one of the largest solar EPCC order book in Malaysia today.”
“It will be busy year ahead for Solarvest as we steadfastly grow our market share across all our key market segments. The Group is collectively tendering for approximately 1,000MWp worth of projects across our Malaysia, Taiwan and Philippines operations. In tandem with the growth plans, we are scaling up our workforce to cater to the rising demand. It is noteworthy that during this challenging time, 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 fuelling economic recovery in Malaysia,” Mr. Davis concluded.
The Group remains upbeat on the industry outlook albeit temporary setbacks, such as the increase in raw material prices, underpinned by the rise in private large-scale power plant projects and investment inflows.
About Solarvest Holdings Berhad
Solarvest is a clean energy company that specialises in turnkey engineering, procurement, construction and commissioning (“EPCC”) services for solar photovoltaic (“Solar PV”) systems. The Group also provides operations and maintenance services of solar PV systems. It has an established track record, having completed solar PV systems for Large Scale Solar Photovoltaic (“LSSPV”) plants as well as residential, commercial and industrial properties.