Key facts
- Solarvest aims to grow its order book to RM5 billion over the next year.
- Malaysia's solar-plus-BESS ecosystem could represent around RM15 billion in contracts and investment value.
- The company expects to convert nearly half of its existing order book into revenue in FY2027.
- Solarvest has an unbilled EPCC order book of RM2.37 billion, to be recognized in FY2027 and FY2028.
- First-quarter FY2027 revenue was RM155.94 million, with a net profit of RM19.02 million.
- The EPCC segment contributed RM139 million, or 89.1%, to total revenue.
Solarvest Holdings Bhd is targeting an RM5 billion order book over the next year as Malaysia's renewable energy market shifts towards a convergence of solar generation, battery energy storage systems (BESS), and corporate renewable energy procurement. The company, which is Malaysia's largest listed clean energy group, aims to capitalize on demand from data centers seeking green power.
Executive director and group CEO Datuk Davis Chong Chun Shiong stated that Malaysia is entering the "solar-plus-BESS era," which represents an estimated RM15 billion in contract and investment values. New contracts under the Corporate Renewable Energy Supply Scheme (Cress) are expected to further accelerate third-party grid access and corporate renewable energy procurement.
In the first quarter of its financial year, Solarvest reported a net profit of RM19.02 million, an increase from RM15.88 million in the same period last year. Revenue expanded to RM155.94 million from RM137.74 million, driven by the Large Scale Solar 5 Programme, Corporate Green Power Programme projects, and increased profits from associate companies. The net profit margin improved to 12.2% from 11.5% in the prior year's first quarter.
The engineering, procurement, construction, and commissioning (EPCC) segment remained the primary revenue contributor, accounting for RM139 million or 89.1% of total revenue. The clean energy generation sector also saw growth, with electricity sales increasing 25.8% year-on-year to RM9.6 million. The group has secured an aggregate capacity of 135MWp from multiple corporate power purchase agreements under the Powervest pipeline, projected to generate RM54.4 million in annual recurrent revenue upon completion within 12 to 18 months.
Solarvest maintains an unbilled EPCC order book of RM2.37 billion, which is expected to be recognized progressively in the financial years ending March 31, 2027, and 2028. The company anticipates converting nearly half of its existing order book into revenue in fiscal year 2027.