Founder Group Secures Multiple Contracts Worth Approximately US$5.5 Million
Founder Group (NASDAQ: FGL) has secured multiple Letters of Award (LOAs) for large-scale solar projects with a combined contract value of US$5.5 million. The company will provide full EPCC services, including DC and AC electrical systems, I&C systems, and civil works for both Corporate Green Power Programme projects and a utility-scale solar initiative.
Malaysia's solar EPCC services industry is projected to reach US$350 million by 2026, growing at a CAGR of 23.5%. The country aims to achieve 20% renewable energy mix by 2025, supported by initiatives like the Green Technology Financing Scheme and Solar for Rakyat Incentive Scheme (SolaRIS).
Founder Group (NASDAQ: FGL) ha ottenuto numerose Lettere di Assegnazione (LOA) per progetti solari su larga scala con un valore contrattuale complessivo di 5,5 milioni di dollari statunitensi. L'azienda fornirà servizi EPCC completi, inclusi sistemi elettrici DC e AC, sistemi di controllo e strumentazione (I&C) e opere civili sia per progetti del Programma Aziendale di Energia Verde che per un'iniziativa solare a livello di utilità.
Si prevede che l'industria dei servizi EPCC solari in Malaysia raggiunga 350 milioni di dollari statunitensi entro il 2026, crescendo a un tasso di crescita annuo composto (CAGR) del 23,5%. Il paese mira a conseguire un mix di energia rinnovabile del 20% entro il 2025, supportato da iniziative come il Programma di Finanziamento per la Tecnologia Verde e il programma di Incentivazione Solar for Rakyat (SolaRIS).
Founder Group (NASDAQ: FGL) ha asegurado múltiples Cartas de Adjudicación (LOAs) para proyectos solares a gran escala con un valor contractual combinado de 5.5 millones de dólares estadounidenses. La empresa proporcionará servicios EPCC completos, incluyendo sistemas eléctricos de CC y CA, sistemas de control e instrumentación (I&C), y obras civiles tanto para proyectos del Programa Corporativo de Energía Verde como para una iniciativa solar a escala de utilidad.
Se proyecta que la industria de servicios EPCC solares en Malasia alcance 350 millones de dólares estadounidenses para 2026, creciendo a una Tasa de Crecimiento Anual Compuesta (CAGR) del 23.5%. El país tiene como objetivo lograr un 20% de mezcla de energía renovable para 2025, respaldado por iniciativas como el Esquema de Financiamiento de Tecnología Verde y el Esquema de Incentivos Solar para Rakyat (SolaRIS).
Founder Group (NASDAQ: FGL)는 총 계약 금액이 550만 달러에 달하는 대규모 태양광 프로젝트에 대한 여러 수상 통지서(LOA)를 확보했습니다. 이 회사는 기업 그린 파워 프로그램 프로젝트와 유틸리티 규모의 태양광 이니셔티브 모두에 대해 DC 및 AC 전기 시스템, I&C 시스템, 토목 공사를 포함한 완전한 EPCC 서비스를 제공할 것입니다.
말레이시아의 태양광 EPCC 서비스 산업은 2026년까지 3억 5천만 달러에 이를 것으로 예상되며, 연평균 성장률(CAGR)은 23.5%에 이를 것입니다. 말레이시아는 2025년까지 20%의 재생 가능 에너지 믹스를 목표로 하고 있으며, 이를 위해 녹색 기술 금융 계획(Green Technology Financing Scheme)과 서민을 위한 태양광 인센티브 계획(Solar for Rakyat Incentive Scheme, SolaRIS)과 같은 이니셔티브가 지원되고 있습니다.
Founder Group (NASDAQ: FGL) a obtenu plusieurs Lettres d'Attribution (LOA) pour des projets solaires à grande échelle d'une valeur totale de contrat de 5,5 millions de dollars américains. L'entreprise fournira des services EPCC complets, y compris des systèmes électriques CC et CA, des systèmes de commande et d'instrumentation (I&C) et des travaux civils pour les projets du Programme d'Énergie Verte d'Entreprise ainsi qu'une initiative solaire à l'échelle des services publics.
On prévoit que l'industrie des services EPCC solaires en Malaisie atteindra 350 millions de dollars américains d'ici 2026, avec un taux de croissance annuel composé (CAGR) de 23,5%. Le pays vise à atteindre un mix énergétique renouvelable de 20 % d'ici 2025, soutenu par des initiatives telles que le Schéma de Financement de la Technologie Verte et le Schéma d'Incentives Solar for Rakyat (SolaRIS).
Founder Group (NASDAQ: FGL) hat mehrere Zuwendungsbriefe (LOAs) für großangelegte Solarprojekte mit einem Gesamtvertragswert von 5,5 Millionen US-Dollar gesichert. Das Unternehmen wird vollständige EPCC-Dienstleistungen bereitstellen, einschließlich DC- und AC-Elektrosystemen, I&C-Systemen und Bauarbeiten sowohl für Projekte des Corporate Green Power Programme als auch für eine solarbetriebene Initiative im Versorgungsmaßstab.
Die Branche für Solar-EPCC-Dienstleistungen in Malaysia wird bis 2026 voraussichtlich einen Wert von 350 Millionen US-Dollar erreichen und mit einer jährlichen Wachstumsrate (CAGR) von 23,5% wachsen. Das Land strebt an, bis 2025 einen Anteil von 20% an erneuerbaren Energien zu erreichen, unterstützt durch Initiativen wie das Green Technology Financing Scheme und das Solar for Rakyat Incentive Scheme (SolaRIS).
- Secured new contracts worth US$5.5 million
- Operating in a market projected to reach US$350 million by 2026
- Benefiting from strong government support and initiatives for solar adoption
- None.
Insights
The secured contracts worth
The company's positioning in both utility-scale and Corporate Green Power Programme projects demonstrates revenue diversification and market penetration capabilities. The government's SolaRIS initiative and supporting tax incentives create a favorable regulatory environment that could drive additional contract opportunities. The Malaysian government's ambitious target to increase renewable energy mix from
These contract wins demonstrate Founder Group's competitive advantage in Malaysia's rapidly evolving solar market. The comprehensive scope of work, including DC/AC systems, I&C systems and civil works, showcases their full-service capabilities. The timing is particularly strategic as Malaysia accelerates its renewable energy transition through programs like CGPP and SolaRIS.
The diversification across utility-scale and corporate projects positions Founder Group to capture multiple market segments. With Malaysia's aggressive renewable energy targets and supporting policy framework, including the Green Technology Financing Scheme, the company is well-positioned to capitalize on the growing demand for solar EPCC services.
KUALA LUMPUR, Malaysia, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Founder Group Limited (NASDAQ: FGL) (“Founder Group” or the “Company”), a pure play, end to end engineering, procurement, construction, and commissioning (EPCC) solutions provider for solar photovoltaic systems in Malaysia, is pleased to announce the receipt of several Letters of Award (LOAs) for multiple large-scale solar projects, with a combined contract value of approximately US
Under the terms of these LOAs, Founder Energy will assume various responsibilities across the projects, including full EPCC services, the supply and installation of DC and AC electrical systems, Instrumentation & Control (I&C) systems, and civil works. These responsibilities encompass projects within the Corporate Green Power Programme (CGPP) as well as a utility-scale solar project. This demonstrates the Company’s flexibility in addressing the diverse needs of large-scale solar initiatives.
Malaysia’s solar EPCC services industry is projected to reach approximately US
“We are pleased to have received these Letters of Award, which are a testament to the trust placed in us by various project owners and highlight our commitment to supporting Malaysia’s transition to renewable energy. We look forward to leveraging our expertise in EPCC solar PV projects as we continue to deliver large-scale solar initiatives moving forward,” said Lee Seng Chi, Chief Executive Officer of Founder Group Limited.
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 visit 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:
For media queries, please contact:
Founder Group Limited
info@founderenergy.com.my
FAQ
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