Malaysia Awards Founder Group $68M Conditional Approval For 100MW Solar Energy Project

Founder Group Limited is excited to share that it has received a conditional Letter of Award (LOA) worth about US$68 million (approximately RM299 million). The project involves developing a 100-megawatt solar farm in Tanjung Malim, Malaysia, covering 900 acres. This solar farm will supply 100 MW of energy to power a cutting-edge AI data center in Enstek City, Malaysia. Founder Group will play a key role as the Engineering, Procurement, and Construction (EPC) partner for this significant initiative.

Hexatoff Group Sdn. Bhd., a key partner in this project, is a turnkey solutions provider specializing in infrastructure and building construction. Registered with the Ministry of Finance Malaysia, the company holds the prestigious G7 construction license, the highest in the country. This collaboration aims to boost Malaysia’s status as a leading hub for AI and digital infrastructure in Southeast Asia, advancing the nation’s goals in technology and sustainable development.

Malaysia’s solar EPCC services industry is expected to grow to around US$350 million (approximately RM1.5 billion) by 2026, with an impressive annual growth rate of 23.5%. This reflects the nation’s dedication to renewable energy, highlighted by the launch of the National Energy Transition Roadmap (NETR) in August 2023. The roadmap, guided by the Malaysian Investment Development Authority (MIDA), focuses on expanding solar projects, renewable energy zones, and large-scale energy storage. These government initiatives, combined with corporate sustainability goals in sectors like data centers and semiconductors, offer significant growth opportunities for EPCC firms as Malaysia continues to expand its renewable energy capacity.

Lee Seng Chi, Chief Executive Officer of Founder Group Limited, said in a statement, “Today marks a significant milestone for the Founder Group as we are awarded the conditional Letter of Award for the development of a 100-megawatt solar farm in Tanjung Malim, Malaysia. This project not only reinforces our commitment towards renewable energy initiatives in Malaysia but also aligns with the country’s National Energy Transition Roadmap, which aims to scale up renewable energy capacity. Our collaboration with Hexatoff Group, a recognized leader in infrastructure solutions, underscores our dedication to driving innovation and sustainability in the energy sector while contributing to Malaysia’s aspirations as a hub for advanced AI and digital infrastructure.”