- Revenue and profit surge on strong delivery of utility-scale solar projects
- Unbilled EPCC order book hits US$ 293 mil with sights set on US$440 mil in 2025
Regional clean energy expert, Solarvest Holdings Berhad has announced its financial results for the second quarter (2QFY26) and six months ending 30 September 2025 (1HFY26).
In its statement, the regional clean energy specialist noted that it delivered robust growth in 2QFY26, recording revenue of US$41 million (RM170 million), an increase of 63.1% compared to US$25 million (RM104 million) in the corresponding quarter last year (2QFY25). Profit after tax and non-controlling interest (net profit) likewise more than doubled to US$4.5 million (RM19 million), up 103.3% from US$2.2 million (RM9 million) previously.
[RM1 = US$0.22]
For 1HFY26, the group posted revenue of RM307.2 million and net profit of RM34.6 million, compared to RM176.6 million and RM17.0 million respectively in the same period of the preceding year.
The engineering, procurement, construction, and commissioning (EPCC) segment remained the group’s primary revenue driver, contributing RM273.8 million or 89.1% of total revenue. The renewable energy generation segment also recorded steady growth, with electricity sales rising 19.8% year-on-year to RM15.7 million (1HFY25: RM13.1 million).
On electricity sales, the group highlighted that it has secured a cumulative capacity of 130MWp through multiple corporate power purchase agreements under the Powervest Programme. This is expected to contribute approximately RM50.4 million in annual recurring revenue upon full completion within the next 12 to 18 months.
Meanwhile, the operations and maintenance segment registered RM5.9 million, a 37.2% increase from RM4.3 million in 1HFY25. Other segments, including environmental commodities trading and green energy solutions, contributed RM11.5 million (1HFY25: RM9.0 million).
Solarvest’s executive director and group CEO, Davis Chong Chun Shiong (pic), said, “We are pleased to report another record-high unbilled EPCC order book of RM1,326 million, which will be progressively recognised over the financial years ending 31 March 2026 and 2027. With the LSS5 and LSS5+ awards on the horizon, we are optimistic that these projects will further strengthen our pipeline and bring our order book closer to RM2.0 billion by the end of 2025.”
“With our proven expertise and continuous innovation, we remain committed to delivering impactful renewable energy solutions that support Malaysia’s journey towards Net Zero.”
He added, “We are proud to have contributed to the nation’s achievement of the 31% renewable energy capacity milestone in 2025, and we remain focused on advancing Malaysia’s long-term clean energy ambitions. Looking ahead, we are actively building momentum to convert our robust tender book – comprising 8.05 GWp in Malaysia and 1.14 GWp across international markets – into operational projects.”
“By prioritising the realisation of these 9.19 GWp opportunities, the group aims to accelerate growth and reinforce its position in both domestic and overseas renewable energy markets,” Chong said.
