KUALA LUMPUR: Shares in Sunview Group Bhd jumped to a nine-month high of 81 sen after bagging an agreement to develop two solar power plants and battery energy storage systems (BESS) in Uzbekistan.
The stock opened four per cent higher at 77 sen.
As at 10.30am, the stock was up 3.38 per cent to 77.5 sen a share, giving it a market capitalisation of RM393.8 million.
Yesterday, Sunview Group Bhd's wholly-owned subsidiary, Fabulous Sunview Sdn Bhd, announced that it had entered into a development and cooperation agreement with Uzbekistan's Ministry of Energy.
This partnership aims to establish two large-scale solar photovoltaic (PV) plants and battery energy storage systems in Uzbekistan.
Under this agreement, Fabulous Sunview Sdn Bhd will handle the design, engineering, procurement, and construction of a 400 MWac solar PV plant with a 100 MW/200 MWh BESS in the Andijan district.
Additionally, they will develop a 200 MWac solar PV plant with a 50 MW/100 MWh BESS in the Fergana district.
Group executive director and CEO, HP Ong, said that these projects will enhance the group's financial stability over the coming years, benefiting from the favorable tariff conditions for solar PV plants and BESS.