PETALING JAYA: Clean energy specialist Solarvest Holdings Bhd today secured three engineering, procurement, construction, and commissioning (EPCC) contracts worth RM154.4 million to develop large-scale solar photovoltaic (LSSPV) plants under the large-scale solar 4 (LSS4) scheme.
The three plants have an accumulated capacity of 40 megawatts (MW) comprising 15MW in Kampar, Perak by TEJA 1 Sdn Bhd (RM54.4 million); 10MW in Kampar, Perak by TEJA 2 Sdn Bhd (RM42.8 million); and 15MW in Kinta, Perak by Kellie Energy Sdn Bhd (RM57.2 million).
The 15MW Kampar plant and 15MW Kinta plant are expected to reach commercial operations by end-2022. Meanwhile, the 10MW Kampar plant is expected to be commercially operational by mid-2023.
Solarvest executive director and group CEO Davis Chong Chun Shiong said with the new contracts, its total unbilled order book now stands at yet another all-time high of RM742 million, majority of which will be recognised by end of calendar year 2024, providing encouraging earnings visibility for the group.
“As mentioned in our recently unveiled five-year strategic roadmap, one of the key growth pillars is to maintain our market leader standing as a clean energy solutions provider in the EPCC space. With the request for proposal of LSS5 set to begin this quarter, our attention is now focused on developing a strong pipeline under the new scheme. In addition to that, we also see LSS5 as a good opportunity to build up our renewable energy asset portfolio as we work towards our goal of 30% recurring income, which is in line with the second pillar of growth under our five-year plan,” Chong said.