Founder Group Targets Malaysia’s RM13–15 billion (approximately US$3.2 billion and US$3.7 billion) LSS6 National Solar Programme, Positioning for Multi-Year Order Book Growth Through 2029
Rhea-AI Summary
Founder Group (FGL) announced that subsidiary Founder Energy is actively tendering for Malaysia’s Large-Scale Solar 6 (LSS6) programme, which offers 2,500MW of solar capacity and 1,250MW of battery energy storage, plus 150MW reserved for Bumiputera companies, with projects targeting full commercial operation by December 31, 2029.
PETRA expects LSS6 to attract RM13–15 billion (approximately US$3.2–3.7 billion) in private investment, creating an EPCC market that Founder Energy is targeting. Founder Energy has worked on over 70 solar EPCC and sub-EPCC projects totalling more than 1GWp DC capacity and aggregate contract value of about RM520 million (US$128.6 million). The company highlights its full-suite EPCC and AI-driven operations and maintenance services as positioning it for potential multi-year order book growth and long-term recurring revenue beyond the construction phase.
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Market Reaction – FGL
Following this news, FGL has declined 9.46%, reflecting a notable negative market reaction. Argus tracked a peak move of +10.7% during the session. Our momentum scanner has triggered 16 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $15.60.
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Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 27 | Share combination | Neutral | -13.8% | 100-for-1 combination intended to help regain Nasdaq minimum bid-price compliance |
| Aug 25 | EV charging investment | Positive | -23.8% | Completed acquisition of a 19.90% stake in Malaysia's SpacePlus charging network |
| Aug 20 | Solar subcontract | Positive | -21.3% | Secured a US$1.5 million EPCC subcontract for a 29.99MWac solar facility |
| Aug 12 | Aquaculture contract | Positive | +3.2% | Signed a RM5.58 million turnkey EPCC contract for a 1.78MW rooftop system |
| Aug 10 | Aquaculture contract | Positive | -6.4% | Signed a RM4.7 million turnkey EPCC contract for a 1.4MW rooftop system |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
FGL historically diverged from positive or neutral company news on four of the five selected events, with negative subsequent price reactions.
Key Terms
battery energy storage system technical
bess technical
epcc technical
o&m technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
KUALA LUMPUR, Malaysia, Sept. 02, 2026 (GLOBE NEWSWIRE) -- Founder Group Limited (‘Founder Group’ or the ‘Company’) (NASDAQ: FGL) announced today that its subsidiary, Founder Energy Sdn. Bhd. (‘Founder Energy’), is actively tendering for projects under the Large-Scale Solar 6 (“LSS6”) programme, Malaysia’s largest-ever utility-scale solar tender. The Company believes LSS6 represents a multi-year growth opportunity that could progressively expand its order book from the current tender period through the programme’s targeted commercial operation date of December 31, 2029.
LSS6: Malaysia’s Largest Utility-Scale Solar Programme
The Ministry of Energy Transition and Water Transformation (PETRA) launched LSS6 in July 2026, offering a total quota of 2,500 megawatts (MW) of solar capacity paired with 1,250MW of battery energy storage system (BESS) capacity, together with a further 150MW of solar capacity reserved for Bumiputera companies in Peninsular Malaysia. PETRA has stated that the programme is expected to attract between RM13 billion and RM15 billion (between US
Founder Energy’s Service Capabilities: Full-Suite EPCC & AI-Powered O&M
Founder Energy’s end-to-end EPCC capability is well matched to the LSS6’s scale, phased build-out, and multi-year construction runway, and the Company expects to see its order book growth progressively between now and the programme’s targeted commercial operation date as tender awards and construction packages are officially commerced.
Since inception, Founder Energy has been involved in over 70 solar EPCC and sub-EPCC projects across Peninsular Malaysia, spanning most of the phases of the government’s LSS programme since 2016, the Corporate Green Power Programme (CGPP), independent power producer (IPP) and Self-Consumption (SELCO) schemes, floating solar, and commercial and industrial (C&I) rooftop installations. Across its completed and on-going project base, Founder Energy has delivered work on facilities representing a combined total of over 1GWp of DC solar capacity, with an aggregate contract value of approximately RM520 million (US
Beyond EPCC delivery, Founder Group also provides long-term asset lifecycle management. The Company integrates the proprietary AI-driven Operations & Maintenance (O&M) technologies. With LSS6 the first LSS round to mandate integrated BESS and a 2029 commercial operation horizon spanning decades of subsequent operation, the Company believes this O&M capability also positions it to capture recurring, long duration revenue that extends well beyond the construction phase into long-term asset management, complementing the project-based EPCC order book with a recurring, longer tail revenue stream.
CEO Commentary
“LSS6 is the largest solar tender Malaysia has ever launched, and it plays directly to our strengths as a full-capability EPCC provider. We are already active in the market, and our existing collaboration with leading Malaysian and International Solar companies who are best positioned to win LSS6 packages will directly benefit us through awards to be made over the next four years. Between these four years until LSS6 commissioned at the end of 2029, we are going to see us replenish our order book with new contracts and grow the business substantially,” 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
