Powerwell receives RM39mil purchase order for Bangladesh solar facility

KUALA LUMPUR: Powerwell Holdings Bhd's wholly-owned subsidiary Powerwell International Sdn Bhd has received a $8.9mil (RM39.24mil) purchase order for the supply of 33 kilovolt substation equipment for a solar power plant project in Bhabanipur, Pabna, in Bangladesh.

In a filing with Bursa Malaysia, the group said the purchase order from Dynamic Sun Energy Pte Ltd, a subsidiary of Paramount Group Bangladesh, is expected to be fulfilled by September 2023.

"The purchase order is expected to contribute positively to Powerwell’s consolidated earnings and net assets for the financial year ending March 31, 2024," it said.