Founder Group Limited Secures US$2.36 million Contract for a 30MW Large Scale Solar Plant in Malaysia

Rhea-AI Summary

Founder Group Limited (NASDAQ: FGL) has secured a RM10 million (US$2.36 million) contract for the engineering, procurement, construction, and commissioning of a 30-megawatt large-scale solar plant in Malaysia.

The project, set for completion by end-2025, will generate approximately 60,000 MWh of clean energy annually and offset around 40,000 tonnes of CO2 emissions. The facility will contribute nearly 60,000 Renewable Energy Certificates (RECs) to help corporate consumers meet sustainability goals.

Positive

• Secured new RM10 million (US$2.36 million) contract for solar plant construction
• Project will generate 60,000 MWh of clean energy annually
• Demonstrates continued business relationship with existing clients
• Contract completion expected by end-2025, providing near-term revenue visibility

Negative

• Contract value is relatively modest at US$2.36 million
• Project execution carries operational and timing risks

Insights

Renewable Energy Infrastructure Analyst

Founder Group secured a $2.36M contract for a 30MW solar plant, strengthening its market position in Malaysia's renewable energy sector.

Founder Group Limited has secured a $2.36 million contract for the EPCC (engineering, procurement, construction, and commissioning) of a 30-megawatt large-scale solar plant in Malaysia. This contract encompasses comprehensive responsibilities including civil and structural works, infrastructure development, installation, commissioning, testing, and interconnection facility setup.

The scale of this project is notable - upon completion, the solar farm will generate approximately 60,000 MWh of clean energy annually, offsetting around 40,000 tonnes of CO2 emissions. Additionally, the project will contribute nearly 60,000 Renewable Energy Certificates (RECs) to the market, providing valuable sustainability credits for corporate consumers looking to reduce their carbon footprints.

What's particularly encouraging is that this isn't a one-off deal but represents a continuation of an existing business relationship, as Founder Group has previously secured contracts with this solar installation company for similar facilities. This suggests the company has established a track record of reliable execution in Malaysia's renewable energy sector.

With project completion expected by the end of 2025, this contract reinforces Founder Group's position in Malaysia's growing renewable energy market and aligns with the country's clean energy transition goals. While the $2.36 million contract value is modest relative to some large-scale energy projects, it represents meaningful business for a specialized EPCC provider focused on the Malaysian market.

KUALA LUMPUR, Malaysia, Sept. 10, 2025 (GLOBE NEWSWIRE) -- Founder Group Limited (NASDAQ: FGL) (“Founder Group” or the “Company”), a leading engineering, procurement, construction, and commissioning (EPCC) solutions provider for solar photovoltaic (PV) systems in Malaysia, is pleased to announce that it has secured a contract with prominent solar installation companies in Malaysia.

The Company secured RM10 million (approximately US$2,358,490) contract for an engineering, procurement, construction, and commissioning of a 30-megawatt large-scale solar (LSS) photovoltaic plant. The Founder Group will be responsible for the civil and structural works, infrastructural works, installation, commissioning and testing and interconnection facility of the facility.

This project awarded is anticipated to contribute nearly 60,000 Renewable Energy Certificates (RECs) to the market. These RECs will help corporate consumers meet their sustainability objectives and reduce their carbon footprints. Upon completion, the solar farm is expected to generate approximately 60,000 MWh of clean energy annually, which is equivalent to offsetting around 40,000 tonnes of CO2 emissions.

This partnership with prominent industry players will be a construction contract that is expected to be completed by the end of 2025. Founder Group has secured contracts with this solar installation company for similar types of facilities over the past few years.

“We are honored to be awarded this project, a recognition that underscores Founder Group’s longstanding reputation and consistent performance in delivering high-quality solutions. This milestone demonstrates industry trust and our commitment to excellence and sustainable growth. We look forward to deepening our engagement with key partners who share our vision of supporting Malaysia’s renewable energy ambitions and contributing to a greener, more sustainable future,” 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

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

What is the value of Founder Group's (FGL) new solar contract in Malaysia?

Founder Group secured a RM10 million (US$2.36 million) contract for a 30-megawatt large-scale solar plant in Malaysia.

How much clean energy will FGL's new solar plant generate annually?

The solar plant will generate approximately 60,000 MWh of clean energy annually and offset around 40,000 tonnes of CO2 emissions.

When will Founder Group complete the Malaysia solar plant construction?

The construction contract is expected to be completed by the end of 2025.

What services will FGL provide for the 30MW solar plant project?

FGL will be responsible for civil and structural works, infrastructural works, installation, commissioning, testing, and interconnection facility of the solar plant.

How many Renewable Energy Certificates (RECs) will the FGL solar project generate?

The project will contribute nearly 60,000 Renewable Energy Certificates (RECs) to help corporate consumers meet their sustainability objectives.