NuEnergy Holdings Bhd is investing RM48.8 million to develop solar photovoltaic (PV) facilities with a combined capacity of 21 MWp across 49 rooftop sites at the premises of a government agency in Malaysia.
The renewable energy group said its wholly-owned subsidiary, IL Energy Sdn Bhd, will acquire and retain ownership of the solar PV systems. The assets will become part of NuEnergy’s portfolio of owned renewable energy facilities and are expected to generate recurring energy income after completion.
The solar facilities will be developed by a subsidiary of the government agency, which will act as the main engineering, procurement, construction and commissioning (EPCC) contractor. Another NuEnergy subsidiary, Armani Sinar Sdn Bhd (ASSB), will act as a strategic partner for the project.
ASSB will provide engineering design support and establish technical standards for the execution of the solar installations. The facilities are targeted for completion by the second quarter of 2027.
NuEnergy said the investment will be financed through a combination of internally generated funds and borrowings. The company expects the project to increase its net assets upon completion while expanding its recurring renewable energy income.
The project also represents an expansion of NuEnergy’s commercial and industrial renewable energy activities into the public-sector segment. According to the company, the development will provide a reference and track record for future solarisation programmes involving government facilities and other public infrastructure.
The 21 MWp portfolio across 49 rooftops highlights the growing use of distributed solar PV systems for public-sector energy requirements.
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