KUALA LUMPUR (Oct 7): Northern Solar Holdings Bhd (KL:NORTHERN) has secured a RM34 million engineering, procurement, construction, and commissioning (EPCC) contract to develop a 9.5MW large-scale solar photovoltaic plant.
The latest award follows RM119.4 million worth of large-scale solar contracts secured in March 2026, bringing the amount of jobs it has secured this year to about RM153.4 million, said the rooftop panel specialist in a statement on Wednesday.
Northern Solar’s unbilled order book stood at RM189.3 million as at end-June 2026,
The award comes a day after Northern Solar transferred from Bursa Malaysia’s ACE Market to the Main Market.
The letter of award (LOA) was accepted on Wednesday by the group's wholly owned subsidiary Northern Solar Sdn Bhd. However, the group did not disclose the identity of the awarding party due to confidentiality provisions.
The group said commercial operations of the plant is scheduled to begin by May 1, 2027.
Northern Solar managing director Lew Shoong Kai said the group would focus on delivering projects according to specifications and schedules while maintaining discipline on costs, working capital and execution risk.
The company also said recent enhancements to the Corporate Renewable Energy Supply Scheme (CRESS), including the CRESS Acceleration Package announced by the Ministry of Energy Transition and Water Transformation (Petra) in September, could create opportunities for solar EPCC providers.
Under the CRESS Acceleration Package, the system access charge (SAC) — the fee renewable energy suppliers pay to Tenaga Nasional Bhd for using the national power grid — is reduced to 14 sen/kWh from 20 sen/kWh.
“Lower grid-access charges and greater contractual certainty can help developers move projects towards financing and construction. As these projects progress, they create additional demand for engineering, construction, and commissioning services,” said Lew.
On Wednesday, Northern Solar settled 12 sen or 9.38% lower to RM1.16, valuing the group at RM459 million.
The stock has surged over 80% since the start of this year, and hit a peak of RM1.29 on Sept 29.
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