Founder Group Limited announced a new engineering, procurement, construction and commissioning (EPCC) contract worth US$5 million (approximately RM19.5 million) for a 5.5 MW solar facility under Malaysia’s Large Scale Solar 5 (LSS5) PETRA programme. The project will generate a guaranteed maximum annual available capacity of 13,568.8 MWh during its first two years of operation and is slated to begin commercial operation on May 1 2027.
The contract is a significant win for Founder Group, whose market capitalization is just under US$6 million. The deal therefore represents a sizable portion of the company’s current valuation and a meaningful addition to its revenue pipeline. At the same time, the company continues to face a high debt‑to‑equity ratio of 3.67 and has been unprofitable over the past year, underscoring the importance of new contracts for sustaining cash flow and improving financial health.
Malaysia’s LSS5 programme is a cornerstone of the country’s National Energy Transition Roadmap, aiming to add 2,000 MW of solar capacity by 2030. Founder Group’s win demonstrates its ability to compete successfully in the program’s competitive bidding process and reinforces its position as a leading EPCC provider for large‑scale solar projects in the region.
CEO Lee Seng Chi said, "Building on our proven track record in delivering utility‑scale projects since LSS4, we are proud to play a key role in this landmark LSS5 cycle." The statement highlights the company’s experience and its commitment to expanding its footprint in Malaysia’s growing renewable‑energy market.
The 5.5 MW project will be constructed and commissioned by Founder Group, with the plant expected to reach commercial operation on May 1 2027. The EPCC contract covers all engineering, procurement, construction and commissioning activities, positioning Founder Group to capture the full value chain of the project and strengthen its pipeline of LSS5 opportunities.
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