consortium Led by real estate developer LBS Bina Group Berhad (LBS Bina), it has partnered with local clean energy specialist Solarvest Holdings Berhad (Solarvest or the “Group”) in engineering, procurement and construction to build a 43MWp solar power plant. and commissioning (EPCC) contract for RM104 million. farm project.
The signing ceremony was witnessed by Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also the Minister of Energy Transformation and Water Transformation, during the recently held Malaysia International Green Tech & Eco Products Exhibition and Conference (IGEM). This project marks LBS Bina’s strategic entry into the renewable energy sector under the Corporate Green Power Program (CGPP).
The solar power plant, located in Senawan, Negeri Sembilan, is expected to be completed by the end of next year. When commissioned, it is expected to generate approximately 53,000MWh of clean energy and offset approximately 35,000 tonnes of carbon dioxide emissions annually.
The solar farm is also expected to bring approximately 53,000 renewable energy certificates (RECs) to market, helping business consumers meet their sustainability goals.
LBS Bina said its commitment to the renewable energy sector underlines its “sustainability commitment and forward-thinking approach to business development.”
“This initiative is not only in line with LBS Bina’s environmental objectives, but also complements our core business of real estate development by strengthening our future product offering with renewable energy solutions. By developing potential energy projects, LBS Bina will create a new recurring revenue stream once the solar power plant is commissioned and strengthen its long-term revenue prospects.”
The solar power plant is owned by Suria Hijauan Sdn Bhd, a consortium comprising Setara Armada Sdn Bhd, MWG Solar Energy Sdn Bhd and Ocean Solar Energy Sdn Bhd, with Setara Armada being a wholly owned subsidiary of LBS.
LBS Bina Group Executive Chairman Tan Sri Il Dr Lim Hock San said: Today marks an important milestone as we celebrate the signing of an EPCC contract with Solarvest, a reputable company known for delivering high quality projects on time and within budget.
“Their expertise gives us confidence in our construction work, enhances the reliability of our solar projects and fosters a collaborative environment for innovative solutions. We are optimistic that this will help us achieve this and advance our sustainability goals.”
Mr Davis Chung Chun Siong, Executive Director and Group CEO of Solarvest, said: CGPP provides a valuable platform for independent power producers like LBS Bina and us to contribute to the development of renewable energy infrastructure.
“SolarVest is proud to provide EPCC services for our solar power plant development. We are confident that our innovative approach and detailed project planning will set us up for a successful construction phase.”
As of last month, Solarvest’s EPCC order book stood at RM582 million. The group is also actively pursuing additional EPCC opportunities under the CGPP, with a target capacity of approximately 380MWp and an estimated project value of RM800 million.
