Solarvest secures RM43m contract to develop solar PV plant in Perak

Solarvest secures RM43m contract to develop solar PV plant in Perak

05 Jul 2021

Solarvest Holdings Bhd has secured a contract worth RM42.9 million to build a large scale solar photovoltaic plant in Perak’s Kerian district.

The engineering, procurement, construction and commissioning contract for the 10.95 megawatts plant was awarded by Solar Citra Sdn Bhd, an electric energy generation firm owned by MK Land Resources Sdn Bhd.

The project will start on July 8 and is expected to be completed on Dec 30 next year, Solarvest said in a bourse filing.

The group said the contract is expected to contribute positively to its net assets and earnings for the financial year ending March 31, 2022 (FY22) and onwards.

Solarvest’s share price closed unchanged at RM1.20 today, valuing the group at RM760.74 million. The counter saw 2.22 million shares traded.

Source: The Edge Markets