PETALING JAYA: Sunview Group Bhd
plans to secure more commercial and industrial (C&I) as well as residential rooftop solar jobs, which will help boost the company’s margins as its remaining large-scale solar (LSS) 4 projects come to an end.
“Management expects to gradually grow its C&I rooftop jobs, which will improve its profit margins in the long run.
“C&I rooftop projects are able to generate gross profit margins in the low to high teens as compared to LSS projects, which are in the mid-single digit,” MIDF Research said.
It pointed out that Sunview is the only engineering, procurement, construction and commissioning (EPCC) player that has secured a contract so far, on the back of muted news flow on Corporate Green Power Programme (CGPP) projects.
Out of Sunview’s unbilled order book of RM196.9mil, some RM100mil are LSS projects. This includes the RM51.9mil CGPP EPCC contract that it secured from Cenergi Solar Kuala Ketil Sdn Bhd recently.
MIDF said Sunview is confident of securing another RM150mil worth of CGPP EPCC jobs soon.
Sunview’s active tender book stands at RM2.5bil, including RM650mil in CGPP tenders, RM200mil in rooftop projects, US$80mil in Eastern European projects and a RM700mil Battery Energy Storage System project.
The research house said Sunview anticipates to start construction works on its 20MW solar photovoltaic power plant in Bulgaria next month or in November. The EPCC project is valued at RM79.5mil.
For its Uzbekistan projects, the company aimed to finalise the power purchase agreement by October.
Sunview entered into an agreement with the country’s Energy Ministry of in July to develop two solar photovoltaic plants with a total capacity of 600MW.
