KUALA LUMPUR (June 18): Sunview Group Bhd (KL:SUNVIEW) has landed a contract worth €15.6 million (RM79.46 million) for the engineering, procurement, construction and commissioning (EPCC) of a solar power plant in Bulgaria.

In a bourse filing on Tuesday, the renewable energy solutions provider said its indirect wholly-owned subsidiary Sunview Builders Pte Ltd entered into an agreement with OKOP Solar EOOD, a Bulgarian company principally involved in the generation and sale of electricity from renewable resources.

Under the agreement, Sunview will provide a 20 megawatts(ac) solar photovoltaic power plant in Bulgaria.

“This contract marks a giant leap forward as part of our global market expansion plan, especially in Europe,” said Sunview’s group executive director HP Ong. “Europe’s RE [renewable energy] market offers vast opportunities, and Sunview is well-positioned to seize them.”

“Additionally, there is another promising 30MW(ac) solar photovoltaic power plant opportunity in the pipeline that we are tendering for, which will further strengthen our presence in the European market,” he added.

Previously, Sunview landed an agreement with the Ministry of Energy in the Republic of Uzbekistan to develop two large-scale solar photovoltaic plants of 400MW and 200MW respectively in the country.

Sunview’s unbilled order book amounted to RM210.9 million as at March 31, 2024.

For the financial year ended on March 31, 2024 (FY2024), net profit declined 26.3% to RM9.58 million from RM13.01 million, amid higher administrative expenses and finance costs.

Revenue climbed 34.3% to RM465.93 million from RM346.99 million, attributable to large-scale solar projects, as well as commercial and industrial rooftop projects.

Shares of Sunview were down half a sen to 77 sen, valuing the group at RM393.85 million. Year-to-date, the counter has gone up 4.1%.