PETALING JAYA: Solarvest Holdings Bhd
has seen its earnings double in its quarterly results.
The large-scale solar farm developer posted RM18.73mil in the second quarter ended Sept 30, 2025 compared with the RM9.19mil in the same quarter last year.
In a statement, the group said the increase was mainly due to the ongoing execution of several utility-scale solar projects under the Corporate Green Power Programme (CGPP) during the quarter.
Its revenue for the quarter under review also surged by 63.1% year-on-year (y-o-y) to RM169.7mil.
The lower revenue last year was because the large-scale solar 4 (LSS4) projects were nearing completion with lower contribution while the CGPP project had not commenced.
The increased profitability led to a higher earnings per share of 2.34 sen. No dividend was declared in the quarter.
For the first half of the year (1H26), Solarvest posted a revenue of RM307.2mil, which rose 74% y-o-y.
Meanwhile, net profit more than doubled to RM34.61mil as compared to RM17.04mil in the same period of the preceding year.
The engineering, procurement, construction, and commissioning (EPCC) segment generated RM273.8mil of the total revenue.
On its prospects, the group expected its performance to remain satisfactory for the remainder of the year and is optimistic on its future.
Some of the key reasons for this include the country’s outlook on renewable energy (RE) that has seen the government commit to increasing RE capacity to 70% of the national energy mix and achieving net-zero emissions by 2050.
Furthermore, the group said the power sector is expected to raise its RE capacity to 31% by 2025 and 40% by 2035, with solar energy likely to become the dominant RE source.
Solarvest has been consistent with its projects lately – it recently announced a consortium with Malakoff Corp Bhd under the LSS5+ programme.
In Sabah and Sarawak, it strengthened its utility-scale portfolio through its partnership with Press Metal Bhd for a 100MWac solar project in Mukah, Sarawak.
It also entered into Joint Investment Framework Agreement with Brookfield CTF Asia Holdings Pte Ltd.
The agreement will outline frameworks for potential investments totalling at least 1.5GWp of large scale solar photovoltaic plants, standalone battery energy storage system (Bess) or hybrid solar and Bess projects across Peninsular Malaysia.
Meanwhile, Solarvest’s executive director and group chief executive officer Datuk Davis Chong Chun Shiong said the group achieved another record-high unbilled EPCC order book of RM1.32bil.
According to him, the projects will be recognised progressively over the financial years ending March 31, 2026 and March 31, 2027.
“With the LSS5 and LSS5+ awards on the horizon, we are optimistic that these projects will further strengthen our pipeline and drive our order book to RM2bil by the end of 2025,” Chong noted.
He added the group is actively building momentum to convert its robust tender book comprising 8.05 GWp in Malaysia and 1.14 GWp in international markets into operational projects.
“By prioritising the realisation of these 9.19 GWp opportunities, we aim to accelerate growth and reinforce its position in both domestic and overseas RE markets,” he said.
It is committed to supporting Malaysia’s journey to net-zero.
