BM GreenTech Bhd is strengthening its position in the renewable energy sector after its wholly-owned subsidiary, Plus Xnergy Holding Sdn Bhd, acquired full ownership of NEFIN V Power Sdn Bhd (NVP), a special-purpose vehicle with development rights for a 29.99MWac solar photovoltaic (PV) farm under the Corporate Green Power Programme (CGPP).
Under the acquisition, Plus Xnergy will purchase a 90% equity interest in NVP from NEFIN Energy (M) Sdn Bhd for RM3.24 million, while the remaining 10% stake will be acquired from NEFINCO (M) Sdn Bhd for RM360,000. The total purchase consideration of RM3.6 million will be fully funded through BM GreenTech’s internally generated funds.
The acquisition is expected to provide BM GreenTech with a new source of recurring income once the solar PV facility begins operations, which is targeted for commissioning in 2027.
Upon completion, the solar farm is expected to generate approximately 60,000 megawatt-hours (MWh) of electricity annually, contributing to Malaysia’s renewable energy transition while supporting the growing demand for clean energy solutions.
Over its estimated 25-year operational lifespan, the solar project is also projected to help avoid more than 1.1 million tonnes of carbon emissions, reinforcing BM GreenTech’s commitment to sustainability and low-carbon development.
BM GreenTech said the acquisition aligns with its strategy to expand its renewable energy capabilities and complements its existing engineering, procurement, construction and commissioning (EPCC) business. The move will allow the group to strengthen its integrated clean energy offerings while creating additional long-term value through sustainable energy assets.
The acquisition also marks another step forward in BM GreenTech’s efforts to diversify its business portfolio beyond its traditional biomass boiler solutions and participate in Malaysia’s growing renewable energy market.
