KUALA LUMPUR (Nov 20): Solarvest Holdings Bhd (KL:SLVEST) has secured a RM320 million engineering, procurement, construction and commissioning (EPCC) contract to construct a 99.99MWac photovoltaic plant in Kampar, Perak, under the Large Scale Solar 5 (LSS5) programme.

According to a bourse filing, the contract was awarded to its wholly owned subsidiary Atlantic Blue Sdn Bhd (ABSB) by Wawasan Demi Sdn Bhd (WDSB) on Thursday, Nov 20.

The project requires ABSB to begin work once it receives the notice to proceed from WDSB, with completion scheduled for Oct 30, 2027.

The plant will be developed on a designated site in Kampar and is intended to add renewable capacity to Malaysia’s grid under the government’s utility-scale solar initiative.

Under the terms of the EPCC contract, ABSB must provide a performance bond equivalent to 7.5% of the contract sum, which will remain valid from the date of contract execution until 60 days after the project’s commercial operation date.

The project also includes a defects liability period of 24 months beginning from the commercial operation date.

WDSB, whose business is principally in hydropower, is required to achieve financial close as part of the conditions precedent, including securing the necessary equity contribution and providing evidence of completion upon request.

The company’s shareholders comprise Coral Energy Sdn Bhd (63%), Ambang Asli Sdn Bhd (19%) and Bertam Solar Power Sdn Bhd (18%).

Solarvest said the contract is expected to contribute positively to the group’s net assets and earnings for the financial year ending March 31, 2026 (FY2026), and in subsequent years until the project is completed.

Solarvest shares closed up one sen or 0.3% at RM3.14 on Thursday, valuing the group at RM2.95 billion. Year to date, the stock has gained 86%.

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