PETALING JAYA: Clean-energy services and solutions provider Samaiden Group Bhd is racing to execute the 99.99MW solar plant in Pasir Mas, Kelantan secured under the Large Scale Solar 5 (LSS5) programme to take advantage of lower solar-panel prices and realise a better-than-expected internal rate of return from the project.
“Short-listed bidders of the LSS5 quota are given more than a year to achieve a financial close and one year for construction. Once completed, Samaiden’s plant could generate close to RM40mil of electricity sales income,” Affin Hwang Investment Bank Research said.
The research house maintained a “hold” call on the stock with a higher RM1.30 target price per share from RM1.15 previously.
No changes have been made to the company’s earnings forecasts as the plant’s maiden income contribution would only come in 2028.
