Founder Group Limited Announces USD$3.8 million New Solar EPCC Photovoltaic Contract
Founder Group (FGL) has secured a new USD$3.8 million contract through its subsidiary, Founder Energy Sdn Bhd, to develop a solar power system for a Malaysian higher education institution. The project includes full development, design, installation, construction, and commissioning of an on-site solar PV system, with completion expected within nine months. The contract aligns with Malaysia's National Energy Policy goal to increase renewable energy capacity from 25% to 70% by 2050. The company anticipates announcing additional EPCC solar PV projects as it expands operations in Southeast Asia.
Founder Group (FGL) ha stipulato un nuovo contratto del valore di 3,8 milioni di USD tramite la sua sussidiaria, Founder Energy Sdn Bhd, per sviluppare un sistema di energia solare per un'istituzione di istruzione superiore in Malesia. Il progetto include sviluppo completo, design, installazione, costruzione e messa in servizio di un sistema solare fotovoltaico in loco, con completamento previsto entro nove mesi. Il contratto si allinea con l'obiettivo della Politica Energetica Nazionale della Malesia di aumentare la capacità di energia rinnovabile dal 25% al 70% entro il 2050. L'azienda prevede di annunciare ulteriori progetti di EPCC per il fotovoltaico solare mentre espande le operazioni nel sud-est asiatico.
Founder Group (FGL) ha asegurado un nuevo contrato de 3.8 millones de USD a través de su filial, Founder Energy Sdn Bhd, para desarrollar un sistema de energía solar para una institución de educación superior en Malasia. El proyecto incluye el desarrollo completo, diseño, instalación, construcción y puesta en marcha de un sistema solar fotovoltaico en el lugar, con finalización prevista en un plazo de nueve meses. El contrato está alineado con el objetivo de la Política Nacional de Energía de Malasia de aumentar la capacidad de energía renovable del 25% al 70% para 2050. La empresa anticipa anunciar proyectos adicionales de EPCC de energía solar fotovoltaica mientras expande sus operaciones en el sudeste asiático.
Founder Group (FGL)는 그 자회사인 Founder Energy Sdn Bhd를 통해 말레이시아의 고등 교육 기관을 위한 태양광 시스템 개발을 위한 380만 달러 계약을 체결했습니다. 이 프로젝트는 현장 태양광 시스템의 전체 개발, 설계, 설치, 건설 및 시운전을 포함하며, 완료는 9개월 이내로 예정되어 있습니다. 이 계약은 말레이시아의 국가 에너지 정책 목표와 일치하며, 2050년까지 재생 가능 에너지 용량을 25%에서 70%로 늘리는 것을 목표로 하고 있습니다. 회사는 동남아시아에서 사업을 확장하면서 추가 EPCC 태양광 프로젝트를 발표할 것으로 예상합니다.
Founder Group (FGL) a sécurisé un nouveau contrat de 3,8 millions de USD par l'intermédiaire de sa filiale, Founder Energy Sdn Bhd, pour développer un système d'énergie solaire pour une institution d'enseignement supérieur malaisienne. Le projet comprend le développement complet, la conception, l'installation, la construction et la mise en service d'un système solaire photovoltaïque sur site, avec une conclusion prévue dans les neuf mois. Ce contrat s'aligne sur l'objectif de la Politique Nationale de l'Énergie de la Malaisie d'augmenter la capacité d'énergie renouvelable de 25 % à 70 % d'ici 2050. L'entreprise prévoit d'annoncer d'autres projets EPCC photovoltaïques solaires alors qu'elle étend ses opérations en Asie du Sud-Est.
Founder Group (FGL) hat einen neuen Vertrag im Wert von 3,8 Millionen USD über seine Tochtergesellschaft Founder Energy Sdn Bhd gesichert, um ein Solarsystem für eine malaysische Hochschule zu entwickeln. Das Projekt umfasst die vollständige Entwicklung, Planung, Installation, den Bau und die Inbetriebnahme eines vor Ort befindlichen Solar-PV-Systems, dessen Fertigstellung innerhalb von neun Monaten erwartet wird. Der Vertrag steht im Einklang mit dem Ziel der nationalen Energiepolitik Malaysias, den Anteil erneuerbarer Energien bis 2050 von 25% auf 70% zu erhöhen. Das Unternehmen plant, weitere EPCC-Solar-PV-Projekte bekannt zu geben, während es seine Aktivitäten in Südostasien ausweitet.
- Secured new USD$3.8 million solar EPCC contract
- Project completion timeline of 9 months indicates quick revenue recognition
- Aligned with Malaysia's national renewable energy goals, suggesting potential future opportunities
- None.
Insights
This
The contract's nine-month completion timeline suggests revenue recognition will span multiple quarters, potentially contributing to steady cash flow. The project aligns strategically with Malaysia's ambitious renewable energy targets, positioning FGL to capitalize on the government's push to increase renewable capacity to
The higher education sector represents a stable client base with typically strong credit profiles, reducing payment risk. This institutional contract could serve as a valuable reference for securing similar projects in the education sector, creating a potential multiplier effect for future business development.
SELANGOR, Malaysia, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Founder Group Limited (“FGL” or the “Company”), a leading engineering, procurement, construction, and commissioning (EPCC) solutions provider for solar photovoltaic systems in Malaysia, today announced that its subsidiary, Founder Energy Sdn Bhd, has secured a contract to develop a solar power system for a Malaysian higher education institution. This contract encompasses the full development, design, installation, construction, and commissioning of an on-site solar PV system for the institution's electricity generation and consumption. Valued at approximately USD
Mr. Lee Seng Chi, Chairman & CEO of Founder Group Limited, commented, “We are delighted to announce this significant contract, which underscores the demand for our customized solar energy solutions. This project aligns with Malaysia's National Energy Policy, which aims to increase renewable energy capacity from the current
This announcement reflects Founder Group's dedication to advancing solar infrastructure in Malaysia and supporting the nation's transition to sustainable energy sources. The Company remains committed to delivering high-quality, customized solar solutions to meet the evolving energy needs of the region.
About Founder Group Limited
Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities in Malaysia. The Company’s primary focus is on two key segments: large-scale solar projects and commercial and industrial (C&I) solar projects. The Company’s mission is to provide customers with innovative solar installation services, promote eco-friendly resources and achieve carbon-neutrality.
For more information on the Company, please log on to https://www.founderenergy.com.my/.
Safe Harbor Statement
This press release contains forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties and other factors, including those listed under “Risk Factors” in the Company’s filings with the U.S. Securities and Exchange Commission, may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.
Contact Information:
Founder Group Limited Contact:
Eric Lee
Chief Executive Officer
Telephone +03-3358 5638
Email: ericlee@founderenergy.com.my
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com
FAQ
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