Solarvest secures contracts to construct 40 MW of photo voltaic farms in Malaysia

March 10 (Renewables Now) – Malaysian photovoltaic (PV) vegetation builder Solarvest Holdings Bhd (KLSE:SLVEST) has been awarded three contracts to assemble 40 MW of large-scale photo voltaic farms in its house nation.

The engineering, procurement, building and commissioning (EPCC) contracts have a mixed worth of MYR 154.4 million (USD 36.8m/EUR 33.5m) and have been secured underneath the native large-scale photo voltaic 4 (LSS4) scheme, Solarvest stated immediately.

The PV firm has been appointed because the EPCC contractor by Taiping Photo voltaic Sdn Bhd, via three of the latter’s wholly-owned subsidiaries.

Extra particulars on the tasks can be found within the desk beneath.

Subsidiary Capability Funding Location
TEJA 1 Sdn Bhd 15 MW MYR 54.4m Kampar, Perak
TEJA 2 Sdn Bhd 10 MW MYR 42.8m Kampar, Perak
Kellie Vitality Sdn Bhd 15 MW MYR 57.2m Kinta, Perak

The TEJA 1 and Kellie photo voltaic farms are set to start industrial operations by the top of the yr, whereas the 10-MW TEJA 2 plant is scheduled for completion by mid-2023.

“With the brand new contracts, our whole unbilled order guide now stands at yet one more all-time excessive of roughly MYR 742 million. Majority of which can be acknowledged by finish of calendar yr 2024, offering encouraging earnings visibility for the Group,” stated Solarvest’s Govt Director and CEO, Davis Chong Chun Shiong.

(MYR 1.0 = USD 0.239/EUR 0.217)

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