Solarvest unit secures RM87.5mil solar plant contract


KUALA LUMPUR: Solarvest Holdings Bhd's subsidiary Atlantic Blue Sdn Bhd has been appointed the main engineering, procurement, construction and commissioning contractor for a large scale solar photovoltaic plant in Kulim, Kedah.

In a filing with Bursa Malaysia, the group said Atlantic Blue accepted the RM87.5mil contract for the 20.76MW plant from Energy ES Sdn Bhd.

Energy ES, the project owner, is principally involved in the development and operation of power generation from renewable energy, solar and others.

The project will commence upon the execution of the EPCC Agreement and the completion date is based on the Schedule Commercial Operation Date of the solar power purchase agreement.

"The Board is of the opinion that the acceptance of the LOA and the subsequent execution of the EPCC Agreement for the Project is expected to contribute positively to the net assets and earnings per share of Solarvest and its group of companies for the financial year ending 31 March 2022 and onwards until the completion of the Project," it said.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

CPO futures rally to breach RM4,200, highest level in two months
KPMG's banking audits not up to scratch, says UK watchdog
BAT Malaysia Q2 net profit climbs on higher sales volume
Challenges in maintaining economic recovery
China stocks fall as foreigners turn net sellers under Connect
Citi best bank for corporate responsibility in Asia
Thai June exports at 11 year high as global demand rebounds
Ant-backed Zomato's roaring India debut sets pace for internet-based startups
Central Global appeals for reopening of Kedah factory
Hextar Global in joint offer to acquire specialty chemicals firm

Stories You'll Enjoy


Vouchers