The contract was extended by MFP Solar Sdn Bhd, which is a 55:45 joint venture between Mega First C&I Solar Sdn Bhd, a unit of Mega First Corp Bhd and Pekat Teknologi Sdn Bhd, a wholly-owned subsidiary of Pekat.
Scheduled to commence in September 2021, the project is expected to be completed in March 2022.
The solar system comprising rooftop and ground mount solar installation is estimated to generate about 8GWh per annum at 16 IWK sewerage treatment plants in Selangor, Kuala Lumpur, Putrajaya and Penang.
The system will reduce IWK's carbon footprint by about 6,000 tonnes, said Pekat.
"“Our portfolio continues to expand with this award, which demonstrates continued progress in our business strategy to grow our customer segments.
“This represents another important milestone for Pekat as we focus on continued growth in-country and delivering EPCC projects whilst working with local companies,” said Pekat executive director Wee Chek Aik in a statement issued on Wednesday.
Commenting on the solar PV industry outlook, Wee said there has been an uptrend in demand for solar energy from the residential, industrial and commercial sectors in line with government policies and initiatives.
“The project falls under the Self-consumption Scheme, which provides an opportunity for IWK to hedge against any future electricity hike and reduce the electricity bill.
“Through the programme, end-users in the industrial and commercial sectors have seen significant savings, and this will continue to drive up the trend for solar energy, he added.
The EPCC contract is expected to contribute positively to Pekat’s earnings for the financial year ending Dec 31, 2021, and beyond.
At 12.30pm, shares in Pekat were last traded unchanged at 74 sen a share on the back of 193,400 units exchanging hands.