Solarvest Holdings Bhd has been awarded a RM401 million engineering, procurement, construction, and commissioning (EPCC) contract for Tenaga Nasional Bhd's (TNB) 500MW solar farm in Bukit Selembau, Kedah. This project, secured under the fifth large-scale solar (LSS5) programme by the Energy Commission (EC), stands as the largest solar farm under the LSS initiative.
The contract was granted to Atlantic Blue Sdn Bhd, a wholly-owned subsidiary of Solarvest, via a letter of award (LOA) from TNB Kuala Muda Solar Sdn Bhd, a special purpose vehicle under TNB Renewables Sdn Bhd. TNB Renewables was shortlisted for the project following the LSS5 bidding round last year.
Solarvest's scope of work includes engineering, procurement (excluding major components like solar PV panels, inverters, combiner boxes, and mounting structures), as well as the construction and commissioning of the solar facility. The project is set for completion by July 31, 2027, with a 24-month defects liability period starting from the commercial operation date.
With this contract, Solarvest's order book has expanded to RM1.3 billion, reinforcing its market position. The company anticipates a positive financial impact on its net assets and earnings per share from FY2026 onwards.
On Monday, Solarvest’s shares rose by eight sen (5.1%) to RM1.65, bringing its market capitalisation to RM1.22 billion. However, the stock remains down 2.4% year-to-date.
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