Gamuda’s solar ventures to generate recurring income

Kenanga Research estimated the project with Gentari could yield an annual profit after tax of RM217.2mil for Gamuda from 2029 onwards.

PETALING JAYA: Gamuda Bhd’s utility businesses will churn out recurring income streams that its toll road concession business used to provide before its sale in 2022.

Analysts view its latest solar initiative, a joint venture (JV) with Gentari Renewables Sdn Bhd to develop 1.5GW of solar photovoltaic power plants paired with battery energy storage systems, as reinforcing the group’s strategic push into the sector.