Solarvest wins RM89.5mil EPCC contract

Solarvest said ABSB will furnish a performance bond to JPSB equivalent to 5% of the EPCC contract sum within 45 days of execution.

PETALING JAYA: Solarvest Holdings Bhd has secured a RM89.5mil engineering, procurement, construction and commissioning (EPCC) contract for a 36MW alternating current solar photovoltaic plant under the large-scale solar programme in Padang Siding, Perlis.

Backed by performance and warranty bonds, Solarvest said its wholly-owned subsidiary, Atlantic Blue Sdn Bhd (ABSB) entered into the EPCC Contract with Jubli Pasifik Sdn Bhd (JPSB), yesterday.

In a filing with Bursa Malaysia, Solarvest highlighted that ABSB will furnish a performance bond to JPSB equivalent to 5% of the EPCC contract sum within 45 days of execution.

The group said the performance bond will be valid from the date of signing until 30 days after the project starts operating commercially.