Solarvest unit secures RM87.5mil solar plant contract
KUALA LUMPUR: Solarvest Holdings Bhd's subsidiary Atlantic Blue Sdn Bhd has been appointed the main engineering, procurement, construction and commissioning contractor for a large scale solar photovoltaic plant in Kulim, Kedah.
In a filing with Bursa Malaysia, the group said Atlantic Blue accepted the RM87.5mil contract for the 20.76MW plant from Energy ES Sdn Bhd.
Energy ES, the project owner, is principally involved in the development and operation of power generation from renewable energy, solar and others.
The project will commence upon the execution of the EPCC Agreement and the completion date is based on the Schedule Commercial Operation Date of the solar power purchase agreement.
"The Board is of the opinion that the acceptance of the LOA and the subsequent execution of the EPCC Agreement for the Project is expected to contribute positively to the net assets and earnings per share of Solarvest and its group of companies for the financial year ending 31 March 2022 and onwards until the completion of the Project," it said.