KUALA LUMPUR (March 27): Malakoff Corp Bhd (KL:MALAKOF) said on Thursday that it has secured the second phase of its solar energy contract with sister company Northport (Malaysia) Bhd.

The agreement, signed on Feb 10, 2025, will see Malakoff's solar arm Malakoff Radiance Sdn Bhd installing a rooftop solar photovoltaic system at Northport’s CT2 building in Port Klang. However, it did not disclose the value of the contract.

The new system, capable of generating up to 2,025.81 kilowatts at peak, will increase Northport’s total solar energy capacity to 4.4 megawatts (MW) upon completion. The initial 2.4MW system was completed in December 2022.

Both Malakoff and Northport are controlled by MMC Corp Bhd, the utilities-and-infrastructure flagship of billionaire businessman Tan Sri Syed Mokhtar Albukhary.

"This collaboration demonstrates Malakoff Radiance and Northport's commitment to delivering efficient and sustainable energy solutions while contributing to Malaysia’s renewable energy (RE) transition," Malakoff chief executive officer Anwar Syahrin Abdul Ajib said in a statement.

Malakoff currently has a renewable energy portfolio of 173MW comprising large-scale solar assets, commercial and industrial solar installations, small hydropower projects, and carbon-free mobility infrastructure.

Shares of Malakoff ended up one sen or 1.3% at 80 sen, valuing Malakoff at RM4 billion. Over the past one year, the counter has gained 25%.

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