PETALING JAYA: Solarvest Holdings Bhd
, via its wholly-owned subsidiary Atlantic Blue Sdn Bhd, has entered into an engineering, procurement, construction and commissioning (EPCC) contract with SV Flux Sdn Bhd for the construction of a 29.99MWac solar photovoltaic energy generating facility in South Seberang Perai, Penang.
In a bourse filing, the group said the RM103.08mil contract shall commence upon receipt of the notice to proceed from SV Flux and is to be completed by July 31, 2027.
Atlantic Blue is to provide a performance bond equivalent to 5% of the contract sum, and a warranty bond with a validity of 24 months after the scheduled commercial operation date equivalent to 2.5% of the contract sum.
“The board is of the opinion that the acceptance of the EPCC contract 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 March 31, 2026, and onwards until the completion of the project,” it said.
