Founder Group Limited Secures a Major Solar Contract
KUALA LUMPUR, Malaysia – Founder Group Limited (NASDAQ: FGL), a significant player in the engineering, procurement, construction, and commissioning (EPCC) domain for solar photovoltaic (PV) systems, has made a striking advancement by securing a contract valued at RM10 million (approximately US$2.36 million) with notable solar installation firms in the nation. This contract entails the development of a 30-megawatt large-scale solar photovoltaic plant, further enhancing the company’s portfolio in renewable energy solutions.
Project Specifications and Responsibilities
The project encompasses comprehensive responsibilities, including civil and structural works, infrastructural works, installation, and commissioning of the solar plant. Founder Group is tasked with ensuring the seamless interconnection and operational readiness of the facility, demonstrating its focus on delivering quality outcomes in the energy sector.
Impact on Renewable Energy Sector
This initiative is projected to inject nearly 60,000 Renewable Energy Certificates (RECs) into the market. These RECs are vital as they aid corporate consumers in hitting their sustainability targets while significantly lowering their carbon footprints. Upon completion, the solar plant is expected to produce around 60,000 MWh of clean energy on an annual basis, which is comparable to reducing approximately 40,000 tonnes of CO2 emissions from the environment.
Collaboration with Industry Leaders
Notably, this collaboration with esteemed industry players is part of a series of engagements that Founder Group has accumulated over recent years. The construction is anticipated to finish by the end of the designated timeframe. Through these partnerships, the company reinforces its standing and reliability within the renewable energy landscape.
Leadership Perspective
Lee Seng Chi, Chief Executive Officer of Founder Group Limited, expressed great pride in being awarded this contract, emphasizing that it is a testament to the company's long-standing reputation and steadfast commitment to delivering high-quality solutions. He underscored that this milestone reflects the trust placed in the company by the industry, and it aligns with their vision to support Malaysia's long-term renewable energy strategy aimed at fostering a greener future.
About Founder Group Limited
Founded as a comprehensive EPCC solutions provider in Malaysia, Founder Group Limited is primarily dedicated to large-scale solar projects alongside commercial and industrial solar installations. Focusing on innovative methods in solar technologies, the company aspires to promote eco-friendly solutions while striving for carbon neutrality.
Get In Touch
For further inquiries about the company or their projects, one can reach out to Founder Group Limited:
Founder Group Limited
Email: info@founderenergy.com.my
Frequently Asked Questions
What is the value of the contract secured by Founder Group?
The contract secured by Founder Group is valued at RM10 million, which is approximately US$2.36 million.
What type of project is Founder Group undertaking?
Founder Group is undertaking a 30-megawatt large-scale solar photovoltaic plant project.
How many Renewable Energy Certificates (RECs) will the project generate?
The project is expected to contribute around 60,000 Renewable Energy Certificates (RECs) to the market.
What environmental impact is expected from the solar plant?
Upon completion, the solar plant is expected to produce approximately 60,000 MWh of clean energy annually, offsetting around 40,000 tonnes of CO2 emissions.
Who is leading Founder Group Limited?
The Chief Executive Officer of Founder Group Limited is Lee Seng Chi, who is actively involved in the company's strategic direction and operational excellence.
