A consortium led by Malaysian property developer LBS Bina Group has awarded an MYR 104 million (USD 22 million) Engineering, Procurement, Construction, and Commissioning (EPCC) contract to Solarvest, a regional leader in clean energy solutions. The contract covers the construction of a 43-megawatt peak (MWp) solar farm in Senawang, Negeri Sembilan, marking LBS Bina’s strategic entry into the renewable energy sector under the Corporate Green Power Programme (CGPP).
The solar farm, expected to be completed by the end of 2025, will generate approximately 53,000 MWh of clean energy annually, reducing carbon dioxide emissions by an estimated 35,000 tonnes. It is also projected to contribute 53,000 Renewable Energy Certificates (RECs) to help corporate consumers achieve their sustainability targets. Owned by Suria Hijauan, a consortium comprising Setara Armada (a wholly owned subsidiary of LBS Bina), MWG Solar Energy, and Ocean Solar Energy, the project represents a key milestone for LBS Bina, leveraging CGPP initiatives to create recurring revenue streams and enhance long-term earnings visibility.
Solarvest, which is responsible for delivering the project, continues to solidify its position in the renewable energy industry. As of September 2024, the company’s EPCC order book totals MYR 582 million (USD 123 million), with plans to expand further. Solarvest is actively exploring additional EPCC opportunities under the CGPP, targeting a capacity of 380 MWp, which represents an estimated project value of MYR 800 million (USD 169 million). This partnership highlights Solarvest’s growing role in driving Malaysia’s transition to clean energy.
(Sources: Solarvest; The Edge Malaysia)
