Solarvest Holdings Secures USD 24 Million Contract for Solar Farm Construction in Malaysia

October 2024

Malaysia’s major clean energy firm, Solarvest Holdings, has clinched a MYR 113 million (USD 24 million) Engineering, Procurement, Construction, and Commissioning (EPCC) contract to build a 45 MWp solar farm in Pekan, located in Pahang state. The project seeks to support corporate clients in reaching their sustainability targets and minimizing their carbon footprints, particularly driven by investments in data centers and the semiconductor sector in Malaysia

Once operational, the solar farm is projected to produce around 57,500 MWh of clean energy each year, effectively offsetting approximately 36,800 tons of CO2 emissions. Spanning 88 acres of repurposed coastal land, the facility will feature monsoon-resistant design elements and utilize high-quality solar panels and inverters. The project is slated for completion by the end of 2025 and is expected to contribute nearly 60,000 Renewable Energy Certificates (RECs) to the market.

The investment for this project comes from local solar investor P Solar Sdn Bhd and is part of the Corporate Green Power Programme (CGPP), an initiative that enables corporate consumers to virtually procure solar energy from developers. In the next phase, Solarvest and P Solar will explore the implementation of Battery Energy Storage Systems to enhance the solar farm’s efficiency and ensure a consistent supply of renewable energy. Both companies are also considering partnerships under the Corporate Renewable Energy Supply Scheme (CRESS) to increase clean energy generation, supporting corporate clients in reaching Malaysia’s national renewable energy target of 40% capacity by 2050.

(Sources: Solarvest; TNGlobal)

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