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MN Holdings Berhad Bags RM26.9 Million EPCC Contract For Solar Farm In Perlis

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growatt01-08-2022

Underground utilities and substation engineering specialist MN Holdings Berhad (MNHB) has bagged a contract worth RM26.9 million for the engineering, procurement, construction and commissioning (EPCC) of an interconnection facility for a large-scale solar photovoltaic (LSSPV) plant and 132kV substation in Chuping, Perlis.

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The Company’s wholly-owned subsidiary MN Power Transmission Sdn Bhd in a joint venture with Savelite Engineering Sdn Bhd received and accepted a letter of award (LOA) from the main contractor Atlantic Blue Sdn Bhd for their appointment as the sub-contractor for the 50 MWAC LSSPV plant.

Under the contract, MN Power and Savelite Engineering will be responsible for the design, manufacture, supply, delivery, installation, testing, and commissioning of the interconnection facility for the LSSPV plant and substation.

Savelite Engineering is principally involved in the provision of mechanical and electrical engineering services.

Atlantic Blue is a wholly-owned subsidiary of Solarvest Holdings Berhad. It specialised in turnkey EPCC solutions for projects involving residential, commercial and industrial properties as well as LSSPV plants. The EPCC contract shall commence immediately and be completed on 30 September 2023.

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Mr Dang Siong Diang, Executive Director of MNHB said the procurement of this LOA signifies recognition of MNHB’s capability in delivering full EPCC in LSSPV plant projects.

“MNHB is delighted to be appointed as the sub-contractor to undertake the EPCC of interconnection facility for an LSSPV plant and substation for one of the largest solar power plants in Perlis,” he added.

Inclusive of the latest contract, MNHB has successfully increased its order book to approximately RM258.0 million.

The contract is expected to contribute positively to the revenue and earnings of the Company for the financial year ending 30 June 2024 as well as to the future earnings and net assets per share of the group during the duration of the contract.

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