NuEnergy Holdings Bhd has secured two letters of award totaling RM270 million to design, construct, and commission a 65MWp solar photovoltaic (PV) plant integrated with a 200MWh battery energy storage system (BESS) in Pasir Gudang, Johor. The announcement was made via a Bursa Malaysia filing on Friday.
The awards, which cover engineering, procurement, construction, and commissioning (EPCC) services, were issued by Binastra Green Energy Sdn Bhd, a wholly owned subsidiary of Binastra Corporation Bhd. Of the total contract value, RM216 million is allocated for procurement, while RM54 million covers engineering, construction, and commissioning services. The project is slated for completion by the second quarter of 2026.
NuEnergy, formerly known as ILB Group Bhd, specialises in the solar renewable energy sector, operating utility-scale solar power plants and offering turnkey EPCC services for solar projects. The latest contract is expected to bolster the company’s position in Malaysia’s growing renewable energy market and expand its project portfolio, highlighting its capability to deliver large-scale, integrated solar-plus-storage solutions.
The company said the project aligns with its long-term strategy to focus on high-value renewable energy developments and strengthen its track record in providing sustainable energy solutions for industrial and commercial clients.
Following the announcement, NuEnergy shares rose three sen or 4.3% to close at 72.5 sen on Friday, giving the company a market capitalisation of RM141.4 million.
This contract marks a significant milestone for NuEnergy as Malaysia accelerates its renewable energy transition under the country’s commitment to sustainable energy growth and decarbonisation. The integrated solar-and-battery project in Pasir Gudang will not only contribute to clean energy generation but also enhance grid stability and energy storage capabilities for the region.
