Maybank IB anticipates Solarvest receiving the new EPCC awards or contracts within the coming three to six months.
PETALING JAYA: Solarvest Holdings Bhd
, a prominent player in the renewable energy sector, has a strong project pipeline that is expected to replenish its order book.
Maybank Investment Bank (Maybank IB) Research said Solarvest is part of the three consortia selected by the Energy Commission under the Corporate Green Power Programme (CGPP) as a solar power producer with a total generation capacity of about 90 megawatts (MW) or equivalent to 43.5 megawatts peak (MWp) in effective capacity.
“We understand that Solarvest has about 250MWp of engineering, procurement, construction and commissioning (EPCC) opportunities under the CGPP, which translates into RM600mil to RM700mil of orderbook potential,” it noted in a report on Solarvest.
The research firm anticipates Solarvest receiving the new EPCC awards or contracts within the coming three to six months.
Maintaining its target price of RM1.40 per share, Maybank IB Research has upgraded Solarvest to a “buy” call from “hold” previously.
