- Appointment builds on partnership with Taiwanese firms Chailease International & GreenRock
- Proposed private placement to raise up to US$60.51 mil to finance ongoing solar projects
Solarvest Holdings Bhd’s wholly-owned subsidiary, Atlantic Blue Sdn Bhd signed a Letter of Award with Nextree Synergy Sdn Bhd in Taipeh yesterday at Energy Taiwan 2025.
Atlantic Blue is appointed as the turnkey Engineering, Procurement, Construction and Commissioning (EPCC) contractor for the 60MW project under the Large Scale Solar 5 (LSS5) in Kuala Langat, Selangor. The project is scheduled to achieve commercial operation by Oct 2027.
(Ed note: The Fifth Large Scale Solar programme is part of Malaysia’s renewable energy ambition. LSS is a competitive bidding scheme aimed at reducing the levelised cost of energy (LCOE) for large-scale solar PV plants. It is administered by the Energy Commission Malaysia, ensuring transparency, efficiency, and adherence to regulatory standards.)
According to Solarvest, the appointment builds upon its partnership with Chailease International Company (Malaysia) Ltd and GreenRock Energy Co, Ltd, first announced in International Greentech & Eco Products Exhibition and Conference Malaysia (IGEM) 2024.
Nextree is a special purpose vehicle comprising Solarvest’s wholly-owned subsidary, Nextree Sdn Bhd (60%); Chailease (30%), a subsidiary of Taiwan’s leading leasing group; GreenRock (5%), a prominent player in Taiwan’s renewable energy sector; and Servex (Malaysia) Sdn Bhd (5%), a subsidiary of Acer Incorporated, one of the world’s top ICT companies.
Solarvest said the award reflects its ability to forge cross-border collaborations and demonstrates its expanding role as a regional renewable energy enabler across Asia-Pacific.
To support its growing portfolio, Solarvest recently proposed a private placement of up to 10% of its total number of issued ordinary shares, expected to raise gross proceeds of up to US$60.51 million (RM254 million) to finance ongoing solar projects, including Nextree’s facility.
This follows its partnership announced last month with Brookfield, a global investment firm founded in Canada, with the two parties entering into a Joint Investment Framework Agreement to develop 1.5 GW of renewable energy projects in Malaysia.
