KUALA LUMPUR (July 6): BM Greentech Bhd’s (KL:BMGREEN) wholly owned subsidiary Plus Xnergy Holding Sdn Bhd has acquired 100% equity interest in NEFIN V Power Sdn Bhd (NVP) for RM3.6 million via two sale and purchase agreements.
NVP is a special purpose vehicle with the rights to develop a 29.99 MWac solar photovoltaic farm under the Corporate Green Power Programme.
In a Bursa Malaysia filing on Monday, BM Greentech said Plus Xnergy will acquire one million ordinary shares comprising 900,000 ordinary shares, or a 90% stake, from NEFIN Energy (Malaysia) Sdn Bhd for RM3.24 million, and the remaining 100,000 ordinary shares from NEFINCO (Malaysia) Sdn Bhd for RM360,000.
In a separate statement, the clean energy, industrial engineering, and climate solutions provider said that the NVP power plant is expected to generate an average of 60,000 megawatt-hour (MWh) of solar energy annually, avoiding more than 1.1 million tonnes of carbon emissions over its 25-year operational lifespan.
“This acquisition will add an upstream revenue channel to BM Greentech’s renewable energy (RE) engineering, procurement, construction and commissioning (EPCC) portfolio, complementing its existing project-based business activities,” it said.
BM Greentech said the acquisition also strengthens the group’s integrated clean energy and environmental technology solutions portfolio, and supports Plus Xnergy’s clean energy GES (generation, efficiency, storage) profile transformation towards becoming an integrated RE player.
In the first half of 2026 alone, the company said Plus Xnergy commercialised one of Malaysia’s largest single-deployment self-consumption battery energy storage system (BESS) projects, a 20 MWh BESS for a food manufacturing facility in Perak.
The company is also contracted for the ongoing 36 megawatt-peak (MWp) solar and 45 MWh BESS project at KLIA Aeropolis, the group added.
“Post-acquisition, Plus Xnergy will deepen its participation in the NVP project by moving beyond its existing role as the EPC contractor into the long-term ownership and operation of a utility-scale solar asset,” it added.
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