KUALA LUMPUR (Dec 19): Uzma Bhd (KL:UZMA) has been awarded a sub-contract by Samaiden Sdn Bhd, a unit of Samaiden Group Bhd (KL:SAMAIDEN) for the development of a 13.42 megawatt AC (MWac) solar photovoltaic plant in Sungai Petani, Kedah.

The contract, secured on a lump sum fixed price basis, encompasses the development of the solar generating facility, including interconnection and other works as outlined in the agreement with Tenaga Nasional Bhd, Uzma's filing read.

The project is scheduled for completion within eight months and 14 days, with the commercial operation date set for Aug 30, 2025, it added.

The project is developed under the Corporate Green Power Programme (CGPP), which allows plant-up of solar farms by developers upon securing commercial offtakers, rather than selling the electricity to Tenaga Nasional Bhd (KL:TENAGA).

Uzma's new energy segment, which covers both rooftop solar and solar farm installations as well as electricity sales from solar farm owned by the company, posted operating profit of RM39,000 on revenue of RM2.57 million in the quarter ended September (1QFY2025).

That represented 1.2% of the RM207.89 million group revenue recorded in the quarter, its past filing showed.

Shares of Uzma settled half a sen or 0.68% lower at 73.5 sen, giving it a market capitalisation of RM321.26 million. The counter is down 2% this year.