Founder Group Limited, a leading provider of engineering, procurement, construction, and commissioning (EPCC) solutions for solar photovoltaic (PV) systems in Malaysia, has secured a new contract worth RM11.6 million (approximately US$2.6 million). This contract is with one of Malaysia’s top solar installation companies, recognized for its solid track record in delivering large-scale solar projects.
Under the agreement, Founder Group will be responsible for the end-to-end execution of a rooftop solar PV generating facility. Their scope of work includes the design, engineering, procurement, supply, delivery, construction, and commissioning of the facility. The construction phase is projected to take two years, after which the Founder Group will enter into an Operations and Maintenance (O&M) agreement, ensuring continued benefits for the next 15 to 21 years.
Founder Group stands out in the Malaysian solar industry as a key supplier of in-house designed solar PV mounting structural systems. Additionally, it is the sole provider and implementer of ground-mounted tracking systems in the country. Over the years, the company has successfully invested in and completed numerous end-to-end solar PV projects, enhancing its reputation for delivering business synergies and cost efficiencies.
The current project is expected to be highly profitable, with a double-digit profit margin. This collaboration builds on an existing relationship between the Founder Group and the solar installation company, with past projects of similar nature already under their belt. Founder Group anticipates securing additional contracts with the same partner in the years ahead.
Lee Seng Chi, Chief Executive Officer of Founder Group Limited, said in a statement, “We are proud that we were able to secure this tremendous contract and continue our on-going partnership with a company that has become one of the premiere solar installation businesses in Malaysia. Both of our companies share the same vision of working together to support the country’s renewable energy goals and promote a greener, more sustainable future. Additionally, this contract will provide opportunities for recurring revenue and margin growth which we expect will drive considerable value for our shareholders.”
This latest contract aligns with Malaysia’s broader push towards renewable energy. A recent Kenanga report from January 20, 2025, highlighted the government’s ambitious goal to increase renewable energy capacity to 40% (23GW) by 2035, up from the current 27% (12GW). Notably, solar energy is expected to contribute over 80% of the 11GW growth needed to meet this target, driven by new large-scale solar (LSS) projects that will add another 2GW of capacity. The EPCC market has also seen significant growth, with the total value of contracts rising from RM7.4 billion to RM12.4 billion, signaling sustained activity in the sector through 2027.
