KUALA LUMPUR (Oct 7): Binastra Corporation Bhd (KL:BNASTRA) announced that its unit, Binastra Green Energy, has secured a RM305 million contract from Bahru Stainless Sdn Bhd (BSSB). The deal, signed on Oct 7, 2025, is a recurrent related party transaction.

In a Bursa Malaysia filing, Binastra said the project, to be installed at BSSB’s plant in Tanjung Langsat, Johor, includes infrastructure works, a 65MWp solar PV system, and a 200MWh battery storage system and is expected to be completed within nine months of the start date.

The contract will support Binastra’s earnings over the next two years.

Binastra managing director Datuk Tan Kak Seng and executive director Lee Seng Yong hold stakes in both Binastra and BSSB’s parent company, Worldwide Stainless Sdn Bhd.

Tan in a statement said the project marks a key step in advancing renewable energy for industrial users, in line with Malaysia’s National Energy Transition Roadmap (NETR) and Solar Energy Self-Consumption (SelCo) programme.

He highlighted the project’s AI integration, which will enable smarter forecasting, real-time optimisation, and predictive maintenance. Once running, it is expected to produce 80 million kWh of solar power annually — covering 80% of BSSB’s energy needs.

Binastra estimates the project could save the company up to RM45.6 million a year in energy costs and cut 61,920 tonnes of CO₂ emissions. Tan added, “We’re proud to help strengthen BSSB ESG performance and support its shift to a low-carbon model.”

The stock closed 1.28% lower at RM2.32, valuing the group at RM2.53 billion. Year-to-date, the stock is up 30.34%.