Energy ES Sdn Bhd has awarded Atlantic Blue Sdn Bhd (ABSB), a wholly-owned subsidiary of Solarvest Holdings Bhd, an engineering, procurement, building, and commissioning (EPCC) contract for a 20.76 MW solar photovoltaic (PV) energy generating plant in Kedah, Malaysia. …
The contract is worth RM87.5 million and will be paid to ABSB according to the payment schedule depending on the project’s fulfilled milestones as specified in the EPCC contract.The solar PV facility is scheduled to commence commercial operation at the end of December 2022. Once works are completed on the solar facility, it will be connected to Tenaga Nasional Bhd’s (TNB) medium voltage distribution network.Solarvest is expected to benefit from the EPCC contract in terms of net assets and profits per share for the financial year ending March 31, 2022 and onwards until the project is completed.