PETALING JAYA, Analysts remain positive on the outlook of Solarvest Holdings Bhd, pointing to a combination of supportive government policies, new project wins, and a steadily diversifying business model as key growth drivers.
According to Maybank Investment Bank Research (Maybank IB), the renewable energy player stands to benefit significantly from policy tailwinds under the large-scale solar 5 (LSS5) initiative and the rising adoption of corporate power purchase agreements (PPAs), which are increasingly being used by companies to secure sustainable and cost-efficient energy.
The research house also highlighted Solarvest’s growing project pipeline and its strategic shift into project ownership, a move that not only diversifies revenue streams but also enhances long-term earnings visibility. Regional expansion efforts further support the group’s trajectory of growth beyond the Malaysian market.
“In addition, we understand that Solarvest is also actively bidding for contracts in the battery energy storage systems (BESS) segment. The outcome of these awards, which are expected to be announced in October, could provide another meaningful boost to its order book,” Maybank IB said.
On the project front, Solarvest recently achieved a milestone after securing a successful bid under the Energy Commission’s LSS5+ exercise. Through a consortium in which Solarvest holds a 20% stake alongside Malakoff Corp Bhd (80%), the group will undertake the development of a 470MW alternating current solar plant in Perak. This project is expected to significantly strengthen Solarvest’s standing in the domestic renewable energy market.
Reflecting these developments, Maybank IB reiterated its “buy” recommendation on Solarvest. The research firm also revised its target price upward to RM2.90 from RM2.64, factoring in the contribution from the company’s stake in the large-scale Perak project.
Analysts note that with its diversified approach spanning engineering, procurement, construction, project ownership, and new ventures into energy storage, Solarvest is positioning itself not just as a solar engineering contractor but as a more holistic renewable energy solutions provider. This transition is seen as vital in ensuring the company remains competitive and well-placed to capture opportunities in the region’s accelerating clean energy push.
