A consortium led by property developer LBS Bina Group Berhad (LBS Bina) has awarded a RM104 million Engineering, Procurement, Construction, and Commissioning (EPCC) contract to Solarvest Holdings Berhad for the development of a 43-MWp solar farm in Senawang, Negeri Sembilan.
The signing ceremony, witnessed by Deputy Prime Minister YAB Dato’ Sri Haji Fadillah Bin Haji Yusof, who is also the Energy Transition and Water Transformation Minister, took place during the International Greentech & Eco Products Exhibition and Conference Malaysia (IGEM). This project marks LBS Bina’s entry into the renewable energy sector through the Corporate Green Power Programme (CGPP).
The solar farm is expected to be completed by the end of 2025 and will generate approximately 53,000 MWh of clean energy annually, offsetting around 35,000 tonnes of carbon dioxide emissions. Additionally, it is projected to contribute 53,000 Renewable Energy Certificates (RECs) to the market, aiding corporate consumers in meeting their sustainability goals.
LBS Bina’s strategic venture into renewable energy aligns with its commitment to sustainability and complements its core business of property development. This initiative is expected to create new, recurring revenue streams and enhance the company’s long-term earnings visibility.
The solar farm is owned by Suria Hijauan Sdn Bhd, a consortium comprising Setara Armada Sdn Bhd (a wholly owned subsidiary of LBS Bina), MWG Solar Energy Sdn Bhd, and Ocean Solar Energy Sdn Bhd.
Tan Sri Dato’ Sri Ir. (Dr.) Lim Hock San, Group Executive Chairman of LBS Bina, commented on the partnership, stating, “We are excited to collaborate with Solarvest, a company renowned for its quality and timely project delivery. This marks a significant milestone in our sustainability journey, and we look forward to achieving our project goals together.”
Solarvest’s Group Chief Executive Officer, Mr. Davis Chong Chun Shiong, expressed optimism about the project, saying, “This solar farm project demonstrates our ability to handle complex solar developments in challenging terrains. We are committed to ensuring successful project execution and supporting the renewable energy infrastructure under the CGPP.”
As of September 2024, Solarvest’s EPCC order book stands at RM582 million, with additional opportunities under the CGPP targeting approximately 380 MWp, valued at RM800 million.
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