KUALA LUMPUR: LBS Bina Group Bhd
's indirect subsidiary Suria Hijauan Sdn Bhd has awarded an engineering, procurement, construction and commissioning (EPCC) contract to Atlantic Blue Sdn Bhd, a unit of Solarvest Holdings Bhd, to construct a 43MWP solar farm in Senawang, Negeri Sembilan, for RM104mil.
Suria Hijauan is a special purpose vehicle in which LBS Bina has a 51% stake via Setara Armada Sdn Bhd.
The other partners in the consortium include MWG Solar Energy Sdn Bhd with a 29% stake and Ocean Solar Energy Sdn Bhd with the remaining 20% equity.
The solar farm, which is expected to be completed by end-2025, is projected to generate about 53,000 MWh of clean energy annually, and offsetting about 35,000 tonnes of carbon dioxide emissions.
According to LBS Bina, the solar farm is anticipated to contribute about 53,000 Renewable Energy Certificates (RECs) to the market, supporting corporate consumers in meeting their sustainability goals.
"This initiative not only aligns with LBGB’s environment goals but also complements its core business of property development by enhancing its future product offerings with renewable energy solutions.
"By developing renewable energy project under the Corporate Green Power Programme, LBGB will create new, recurring revenue streams upon the commissioning of the solar farm, enhancing its long-term earnings visibility," said the group in a statement.
