Kuala Lumpur, 6 July 2026 – BM GreenTech Berhad (BM GreenTech) today announced that its wholly-owned subsidiary Plus Xnergy Holding Sdn Bhd (Plus Xnergy) has acquired 100% equity interest in NEFIN V Power Sdn Bhd (NVP), a special purpose vehicle (SPV) with the rights to develop a 29.99 MWac solar photovoltaic (PV) farm under the Corporate Green Power Programme (CGPP).

The NVP power plant is expected to generate an average of 60,000 MWh of solar energy annually, avoiding more than 1.1 million tonnes of carbon emissions over its 25-year operational lifespan.

This acquisition will add an upstream revenue channel to BM GreenTech’s renewable energy (RE) Engineering, Procurement, Construction and Commissioning (EPCC) portfolio, complementing its existing project-based business activities.

NVP has secured contracts from offtakers (buyers) for the generated RE, providing a steady flow of recurring income to Plus Xnergy starting 2027 when the PV power plant is commissioned. The offtakers include Fortune 500 companies from the semiconductor and food industries with significant investments across Malaysia and Southeast Asia, with decarbonisation targets.

BM GreenTech Group Managing Director Chia Lik Khai said, “This acquisition is a step forward in our growth strategy to capture opportunities that move us up the value chain and provide more visibility on revenue. Utility-scale RE is still at its nascent phase in Malaysia. By entering this field now, we become one of the early providers of RE to corporates and industries, enabling us to tap the growth upside.”

The acquisition also strengthens BM GreenTech’s integrated clean energy and environmental technology solutions portfolio, and supports Plus Xnergy’s clean energy G.E.S. (generation, efficiency, storage) profile transformation towards becoming an integrated RE player. In the first half of 2026 alone, Plus Xnergy commercialised one of Malaysia’s largest single-deployment self-consumption Battery Energy Storage System (BESS) projects, a 20 MWh BESS for a food manufacturing facility in Perak. The company is also contracted for the ongoing 36 MWp solar and 45 MWh BESS project at KLIA Aeropolis.

The purchase of NVP will be financed through internally generated funds and undertaken via two sale and purchase agreements (SPAs). The first SPA involves the acquisition of 900,000 ordinary shares from NEFIN Energy (Malaysia) Sdn Bhd, representing 90% of NVP’s total issued and paid-up share capital, for RM3.24 million. The remaining 100,000 ordinary shares will be acquired from NEFINCO (Malaysia) Sdn Bhd for RM360,000. The purchase consideration will be settled in two tranches – 50% payable upon execution of the SPAs and the balance upon completion of the transaction.

Post acquisition, Plus Xnergy will deepen its participation in the NVP project by moving beyond its existing role as the EPC contractor into the long-term ownership and operation of a utility-scale solar asset.

In FY2026, BM GreenTech Group's Develop, Build, Own and Operate (DBOO) model portfolio comprised 15 assets with a combined capacity of 29 MWp. Of this, 25 MWp gross ownership across nine assets are held through Plus Xnergy joint ventures. The acquisition of the NVP power plant further expands BM GreenTech’s pipeline of recurring income-generating RE assets to 74MWp.

Meanwhile, Plus Xnergy’s total nationwide portfolio to-date comprises over 510 MWp of grid-connected solar footprint that has generated over 3,579 GWh of energy, and 100 MWh of completed and ongoing BESS projects as at June 2026.

About BM GreenTech

Listed on the Main Market and a component of the Renewable Energy subsector of Bursa Malaysia, BM GreenTech Berhad (BMGREEN, 0168) is a leading provider of clean energy, industrial engineering, and climate solutions across Southeast Asia. As a trusted decarbonisation partner, BM GreenTech specialises in delivering comprehensive, holistic solutions in bio-energy, solar energy and water treatment for a wide range of industries, including data centres, to help them enhance operational efficiency, accelerate energy transition initiatives, and achieve their long-term sustainability goals. Beyond its established engineering, procurement, construction, and commissioning (EPCC) contracts for industrial players, BM GreenTech continues to expand its value chain upstream into utility-scale greenfield ownership and renewable energy power generation. BM GreenTech is also a subsidiary of QL Resources Berhad.

Further information available at www.boilermech.com.

About NEFIN

NEFIN is a trusted sustainability partner offering bespoke carbon-neutral technologies & financing solutions in Asia Pacific. NEFIN has worked with numerous multinational corporations and large local businesses, delivering renewable energy solutions at utility-scale, commercial and industrial levels.

Leveraging its diverse, cross-functional team, NEFIN provides comprehensive energy efficiency assessments and a full suite of services to evaluate the ESG impact and commercial viability of solar projects through innovative approaches to technology under its unified energy management platform.

With a mission of “Achieving Carbon Neutrality for You”, NEFIN is committed to the global climate goals and aims to accelerate the decarbonisation of our client portfolios. Recent advancements include NEFIN’s integration of battery energy storage solutions and exploring progressive carbon reduction and offset strategies for our clients.  NEFIN believes the future of the world is everyone’s responsibility and strives to redefine energy boundaries towards a sustainable future.

Please refer to NEFFIN’s website www.nefinco.com for more information and follow us at https://www.linkedin.com/company/nefin/.

More sources:

1. The Star, 6 Jul, BM GreenTech expands into utility-scale solar with NEFIN SPV acquisition
2. The Edge, 6 Jul, BM Greentech acquires NEFIN V Power for RM3.6 mil, expanding into utility-scale solar
3. New Straits Times, 6 Jul, BM GreenTech expands renewable portfolio with NVP acquisition
   • Replicated on KLSE Screener: https://www.klsescreener.com/v2/news/view/1750101/BM_GreenTech_expands_renewable_portfolio_with_NVP_acquisition#:~:text=BM%20GreenTech,-expands%20renewable%20portfolio&text=BM%20GreenTech%27s%20subsidiary-,Plus%20Xnergy,-Holding%20Sdn%20Bhd.&text=group%20managing%20director-,Chia%20Lik%20Khai,-said.
4. The Malaysian Reserve, 6 Jul, BM GreenTech buys Perak solar project vehicle, to inject RM12m for operations
5. Business Today, 6 Jul, BM GreenTech Acquires 29.99MW Solar PV For RM3.6 Million
6. TradingView, 6 Jul, BM Greentech Says Unit To Buy Nefin V Power For 3.6 Million RGT
7. SolarQuarter, 6 Jul, BM GreenTech Enters Utility-Scale Solar Segment with Acquisition of 29.99 MW CGPP Project SPV
8. BernamaBiz, 6 Jul, Unit BM Greentech Ambil Alih NEFIN V Power Pada RM3.6 Juta
9. The Ledger Asia, 6 Jul, BM GreenTech Expands Into Utility-Scale Solar With NEFIN SPV Acquisition
10. The Financial Today, 6 Jul, BM GreenTech Berhad（BMGREEN）继续扩大可再生能源业务版图，通过旗下全资子公司Plus Xnergy Holding私人有限公司，收购NEFIN V Power私人有限公司（NVP）100%股权，正式进军大型公用事业级太阳能资产领域
11. The Edge, 6 Jul, Sime Darby Property, WCT, Carlsberg Brewery, Berjaya Property, Hibiscus, BM Greentech, Careplus, Rimbunan Sawit & Asdion
12. The Star, 7 Jul, BM GreenTech lands solar farm for RM3.6mil
13. The Star, 7 Jul, https://www.thestar.com.my/business/business-news/2026/07/07/trading-ideas-simeprop-wct-carlsberg-berjaya-property-hibiscus-careplus-ecm-libra-bm-greentech-rimbunan-sawit-asdion-permaju-rt-pastry-enest#:~:text=Careplus%2C ECM Libra%2C-,BM Greentech,-%2C Rimbunan Sawit%2C Asdion%2C&text=wholly owned subsidiary%2C-,Plus Xnergy,-Holding Sdn Bhd%2C

    • Replicated on KLSE Screener: https://www.klsescreener.com/v2/news/view/1750401/trading-ideas-simeprop-wct-carlsberg-berjaya-property-hibiscus-careplus-ecm-libra-bm-greentech-rimbunan-sawit-asdion-permaju-rt-pastry-enest#:~:text=Careplus%2C%20ECM%20Libra%2C-,BM%20Greentech,-%2C%20Rimbunan%20Sawit%2C%20Asdion%2C

14. BigGo Finance, 7 Jul, BMグリーンテック、特別目的会社を360万リンギで買収し、大規模太陽光発電事業に参入 (BM Greentech acquires a special purpose company for 3.6 million ringgit, entering the large-scale solar power generation business)