KUALA LUMPUR: Solarvest Holdings Bhd
said its wholly-owned subsidiary Atlantic Blue Sdn Bhd has entered into an engineering, procurement, construction and commissioning contract valued at RM89.5mil with Jubli Pasifik Sdn Bhd for developing a 36MWac solar photovoltaic plant under the large-scale solar programme in Padang Siding, Perlis.
In a stock exchange filing, Solarvest said Atlantic Blue shall commence work on the contract upon receipt of a notice to proceed from Jubli Pasific and ensure it is completed by Feb 26, 2028.
Atlantic Blue shall provide a performance bond equivalent to 5% of the contract sum until 30 days after the scheduled commercial operation date, whereupon it will be replaced with a two-year warranty bond valued at 2.5% of the contract sum.
