KUALA LUMPUR (Nov 28): Solarvest Holdings Bhd (KL:SLVEST) has secured a RM142.3 million engineering, procurement, construction and commissioning (EPCC) contract to build a 29.99MWac solar photovoltaic plant and interconnection facilities in Kulim, Kedah, under the Corporate Green Power Programme (CGPP).

In a bourse filing, Solarvest said the contract was awarded to its wholly-owned subsidiary Atlantic Blue Sdn Bhd (ABSB) by Citra Energies Sdn Bhd, which is primarily involved in solar and other renewable energy projects.

The contract covers the design, engineering, procurement, construction, start-up, commissioning and testing of the 29.99MWac solar plant in Padang Meha.

ABSB will undertake the project on a fixed-price, turnkey, lump-sum basis, and guarantee timely completion and proper installation.

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 subsequently until the project is completed.

This marks the second contract secured by Solarvest this month. Last week, the group announced that ABSB had won a RM320 million EPCC contract to construct a 99.99MWac photovoltaic plant in Kampar, Perak, under the Large Scale Solar 5 (LSS5) programme. The contract was awarded by Wawasan Demi Sdn Bhd.

Solarvest shares closed down 19 sen or 6.3% at RM2.85 on Thursday, valuing the group at RM2.68 billion. Year to date, the stock has gained about 68%.