Founder Group Limited (NASDAQ: FGL) announced that its subsidiary, Founder Energy Sdn Bhd, has signed a turn-key engineering, procurement, construction and commissioning contract to install a 1.4-megawatt rooftop solar system for a shrimp farm operator in Bandar Permaisuri, Terengganu, Malaysia.

The contract is valued at approximately RM4.7 million ($1.15 million) and covers three sites operated by the client. The scope includes supply and installation of panels, inverters, mounting structures, cabling and related equipment, as well as grid-connection coordination with national utility Tenaga Nasional Berhad.

According to the company's press release, this marks Founder Group's first contract in the aquaculture sector. The Malaysia-based solar EPCC provider had not previously served the industry.

Lee Seng Chi, chief executive officer of Founder Group, commented on the contract: "Aquaculture is a non-stop, high demand industry where energy cost efficiency directly safeguards production yield and business continuity. For farm operators, power is not an administrative cost, it is a core operational driver."

Founder Group states it also offers operations and maintenance services using AI-driven technology, including automated diagnostics, predictive maintenance, and drone-assisted inspections, though these services are described as separate from the current contract's scope.

The Department of Fisheries Malaysia reported that domestic aquaculture production exceeded 500,000 metric tons, valued at approximately $1 billion, in 2023.