KUALA LUMPUR: Solarvest Holdings Bhd
is anticipating a satisfactory earnings year in the making amid an optimistic outlook on the renewal energy industry in Malaysia.
The clean energy expert said it will progressively recognise its unbilled order book, which stood at RM469mil as at end-July 2024, in the financial years ending March 31, 2025, and 2026.
It added that it is looking forward to capitalising on the "imminent awards" of engineering, procurement, construction and commissioning (EPCC) contracts for corporate green power programme (CGPP) projects.
"Looking beyond CGPP, the two gigawatts fifth large scale solar (LSS5) quota, coupled with the additional 800 megawatts quota allocations under NEM 3.0 and NEDA, presents further avenues to expand the group’s project pipeline.
"Under the Powervest programme, the group has secured a cumulative capacity of 100 MWp from multiple corporate power purchase agreements, which is expected to contribute RM42.7mil annual recurrent revenue to the group upon full completion within the next 12 to 18 months," it said in comments accompanying its results filing with Bursa Malaysia.
In the first quarter of its financial year, Solarvest posted a net profit of RM7.84mil, up from RM6.7mil in the year-ago quarter, which translates to an earnings per share of 1.15 sen against one sen previously.
The group reported revenue of RM72.65mil in 1QFY25 against RM143.39mil in 1QFY24.
