KUALA LUMPUR: Solarvest Holdings Bhd
’s wholly-owned subsidiary, Atlantic Blue Sdn Bhd, has secured a RM142mil contract from SM01 Sdn Bhd for a design, engineering, procurement, construction, and commissioning (EPCC) contract.
In a filing with Bursa Malaysia, Solarvest said the EPCC involved the construction of a solar photovoltaic energy generating facility with a capacity of 29.99 MWac in Gurun, Kedah.
SM01 has been established as a special purpose vehicle (SPV) solely to carry out the Project under the corporate green power programme (CGPP).
Solarvest’s wholly-owned subsidiary, Solarvest Asset Management Sdn Bhd, will subscribe to a 33% stake in SM01, while Shizen Malaysia Sdn Bhd and HSS Engineering Sdn Bhd will take up 49% and 18%, respectively.
Solarvest said the contract is subject to specific conditions precedent, including obtaining approval from the Energy Commission and/or the single buyer, as defined under the Electricity Supply Act 1990, and the successful registration of SM01 as a participant in the New Enhanced Dispatch Arrangement (NEDA) for the project on or after Jan 30, 2025.
