Solarvest Holdings Bhd’s shares rose in early trading today after the company announced it had secured a RM1.06 billion engineering, procurement, construction and commissioning (EPCC) contract from Malakoff Silver Solar Sdn Bhd.
At 10.02am, the counter gained 10 sen to RM2.87, with 3.80 million shares traded.
In a Bursa Malaysia filing, Solarvest said the contract will be executed by its wholly owned subsidiary, Atlantic Blue Sdn Bhd. The scope of work covers the development of a 470 megawatt alternating current (MWac) solar photovoltaic power plant, as well as its related interconnection facilities.
The project forms part of the Large Scale Solar 5+ (LSS5+) programme and will be located in Larut and Matang, Perak.
Solarvest said the project represents a major milestone for the group as it continues to expand its presence in Malaysia’s renewable energy sector, particularly in utility-scale solar developments.
The company added that the contract is expected to have a positive impact on its earnings and net assets per share for the financial year ending March 31, 2027, and will continue contributing over the duration of the project until completion.
Solarvest noted that securing large-scale solar projects strengthens its order book visibility and supports its long-term growth strategy in the clean energy space.
