KUALA LUMPUR: Solarvest Holdings Bhd has clinched a RM87.5 million contract from Energy ES Sdn Bhd.
The latter is a consortium comprising of Savelite Engineering Sdn Bhd, Moderntent Development Sdn Bhd and Frasers Construction (M) Sdn Bhd.
Solarvest, in a statement today, said the contract involved the main engineering, procurement, construction and commissioning (EPCC) works for a 20.76 megawatts large scale solar photovoltaic (LSSPV) plant in Kulim, Kedah.
Group chief executive officer Davis Chong Chun Shiong said Solarvest was expanding its exposure in the national LSS programme to unlock more green energy to serve the local communities.
"Solarvest has grown alongside with the LSS programme since its formation, and we look forward to seeing the continuation of the programme as it plays a crucial role in driving the growth of the local solar industry."
The contract marked Solarvest's 11th LSS project and second under the LSS4 scheme, he added.
Chong said Solarvest's total orderbook for EPCC works under the LSS4 programme stood at RM130.4 million.
"We hope to further increase our market share in the LSS4 programme in the coming months as shortlisted bidders are in the advanced stages of awarding the EPCC contracts out. In total we have a tender pipeline of RM600 million to RM700 million worth of projects under the LSS4 programme alone," he said.
Chong said Solarvest's commercial and industrial segment was growing rapidly with robust project orders.
The increasing focus in environment, social and governance practices among businesses has been one of the key growth drivers.
"The surge in demand from both segments bolstered our total unbilled orderbook to new heights at RM315.5 million. We believe the momentum will be sustained considering the active tenders flow in the region right now. To date, our tenderbook has enlarged to about 1,000MWp of projects across Malaysia, Taiwan and the Philippines," he added.