Founder Group wins $1.5M solar subcontract in Malaysia's Kedah

Founder Energy Sdn Bhd, a subsidiary of Founder Group Limited (NASDAQ: FGL), has been awarded a subcontract valued at RM6.05 million (approximately $1.5 million) under Malaysia's Corporate Green Power Programme (CGPP), according to a company press release.

The subcontract covers procurement, electrical and mechanical installation, and commissioning of a 29.99MWac large-scale solar photovoltaic facility in Daerah Kuala Muda, Kedah. Major equipment will be purchased directly by the main contractor. Founder Energy's responsibilities include obtaining required approvals and permits, as well as testing and commissioning the system to the interconnection point in compliance with Tenaga Nasional Berhad requirements.

CGPP is a national mechanism that allows corporations to procure renewable energy directly from large-scale solar developers via the grid.

"Being engaged as subcontractor for the electrical and mechanical installation and commissioning scope on a near-30MW facility reflects the trust that major industry players place in our execution capability," said Lee Seng Chi, chief executive officer of Founder Group Limited.

In July 2026, Malaysia's Ministry of Energy Transition and Water Transformation launched the Large-Scale Solar LSS6 framework, offering 2,500MW of solar capacity and expected to attract investment of RM13 billion to RM15 billion (approximately $3.2 billion to $3.7 billion).

Founder Group describes itself as an end-to-end EPCC solutions provider for solar photovoltaic facilities in Malaysia, operating across large-scale solar and commercial and industrial segments.

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