KUALA LUMPUR: A consortium led by LBS Bina Group Berhad has awarded Solarvest Holdings Berhad a RM104 million contract for engineering, procurement, construction, and commissioning (EPCC) to build a 43-MWp solar farm in Senawang, Negeri Sembilan.
This project marks LBS Bina's strategic entry into the renewable energy (RE) sector under the Corporate Green Power Programme (CGPP).
The solar farm, owned by Suria Hijauan Sdn Bhd—a consortium comprising LBS Bina's wholly-owned subsidiary Setara Armada Sdn Bhd, MWG Solar Energy Sdn Bhd, and Ocean Solar Energy Sdn Bhd—is expected to be completed by the end of 2025.
Once operational, it is projected to generate roughly 53,000 MWh of clean energy annually, offsetting about 35,000 tonnes of carbon dioxide emissions and contributing around 53,000 Renewable Energy Certificates (RECs) to help corporate consumers meet their sustainability targets.
The contract signing took place during the International Greentech & Eco Products Exhibition and Conference Malaysia, witnessed by Deputy Prime Minister Datuk Sri Fadillah Yusof, who also serves as the Minister of Energy Transition and Water Transformation.
lBS Bina group executive chairman Tan Sri Ir. (Dr.) Lim Hock San said as a company deeply committed to ESG, it has consistently demonstrated its dedication to sustainability.
"Today marks a significant milestone as we celebrate the awarding of the EPCC contract to Solarvest, a reputable company known for its high-quality project delivery on time and within budget. Their expertise instills confidence in our construction efforts, enhancing our solar project's credibility and fostering a collaborative environment for innovative solutions. We are optimistic that this partnership will help us achieve our project goals and advance our sustainability objectives."
Lim said that the company's strategic venture into the RE sector underscores the company's commitment to sustainability and a forward-thinking approach to business development.
This initiative not only aligns with LBS Bina's environmental goals but also complements its core business of property development by enhancing its future product offerings with RE solutions.
By developing RE projects under the CGPP, the company will create new, recurring revenue streams upon the commissioning of the solar farm, enhancing its long-term earnings visibility.
Solarvest's executive director and group chief executive officer Davis Chong Chun Shiong said that as a clean energy player, the company is encouraged by the growing ESG awareness among corporations and their ambitious sustainability goals.
"The CGPP offers a valuable platform for independent power producers like LBS Bina to contribute to the development of renewable energy infrastructure," he said.
"Solarvest is honoured to provide EPCC services for its solar farm development. This project highlights our ability to deliver complex solar projects, even in challenging terrains like the hilly landscape of the site."