PETALING JAYA: Solarvest Holdings Bhd ) has secured a new project worth RM29.2 million from NE Suria Satu Sdn Bhd (NESS) for the installation of solar photovoltaic (PV) panels for a global hypermarket chain in Malaysia.
NESS is a joint venture company between Petronas Power Sdn Bhd and NEFIN Energy (Malaysia) Sdn Bhd to invest, undertake and deliver the solar PV project.
Solarvest group CEO Davis Chong Chun Shiong (pix) said this rooftop project is the largest for the group’s commercial and industrial segment, which makes up about 90% of the group’s total orderbook.
“ We have been receiving inquiries from customers across various industries such as manufacturing, hypermarkets, government linked companies, etc. It is encouraging for us as demand for large scale rooftop solar systems continue to rise along with the increase in green investments,” he said.
Under the agreement, Solarvest will undertake the full turnkey engineering, procurement, construction and commissioning (EPCC) works to install solar PV panels for the Phase 1 of the project, which includes 15 designated hypermarket stores with cumulative capacity of approximately 10,614 kilowatt peaks (“kWp”), located across Peninsular Malaysia.
The solar rooftop project will be completed within the year and is expected to contribute positively to Solarvest’s financial performance for the financial year ending March 31, 2021.
Looking ahead, Chong said while he remains optimistic of the group’s outlook and growth prospects, Solarvest has taken several measures to ensure the safety of its people as well as to best limit the impact of Covid-19 on the business.
“It is paramount for us to change the way we work in this fluid environment. We have since launched several initiatives to stimulate sales interests such as conducting webinars and online consultation services. We will continue to work hard to navigate through this unprecedented period and future proof our business,” he said.
