BM Greentech Bhd has clinched a RM95 million job from Nefin V Power Sdn Bhd through its unit Plus Xnergy Services Sdn Bhd to develop a 29.99-megawatt alternating current (MWac) solar photovoltaic plant.

KUALA LUMPUR (Aug 15): Biomass boiler manufacturer BM Greentech Bhd (KL:BMGREEN) secured a RM95 million job on Friday for the development of a 29.99-megawatt alternating current (MWac) solar photovoltaic plant.

In a bourse filing, the group said the plant will operate under the New Enhanced Dispatch Arrangement (NEDA) as part of the Energy Commission's Corporate Green Power Project initiative.

The location of the plant was not disclosed.

BM Greentech said its indirect wholly owned subsidiary Plus Xnergy Services Sdn Bhd signed two contracts with Nefin V Power Sdn Bhd (NVP) to undertake the job.

The first contract, which is the RM64.87 million procurement contract, covers the supply of machinery, equipment and materials, including photovoltaic panels and mounting structures.

The second is a RM30.14 million engineering and construction contract involving the design, project management and construction of the solar farm.

BM Greentech expects the project to contribute positively to its earnings and net assets for the financial year ending March 31, 2026, and onwards until completion.

Plus Xnergy develops and maintains solar PV systems, and provides consultancy on solar energy projects.

The client, NVP, operates generation facilities for electric energy, installs non-electric solar collectors, and manages the transmission and distribution of electricity.

Shares in BM Greentech closed up three sen or 1.71% at RM1.78 on Friday, giving the group a market capitalisation of RM1.22 billion.

About Plus Xnergy
Founded in 2012, Plus Xnergy provides clean energy solutions for commercial, industrial, residential and LSS projects including solar farms in Kedah, Perlis, Perak, and Selangor.

Through Xnergy Ecosystem, which consist of Energy Generation, Energy Intelligence and Energy Storage, it has built a strong presence in Malaysia with nationwide footprint of over 472 MWp of grid-connected solar photovoltaic (PV) system solutions, which generated 2,912 GWh in clean energy and smart energy solutions that span over 50+ industries. Among Plus Xnergy's clients are IKEA, Lotus's Group, TF Value Mart, Lam Research, Keysight, UWC, PKT Logistic, BOH Tea, IKEA, Asadi, Spritzer, Secret Recipe, Sunway, DHL Express, Sony, Quayside Mall and more. 

In year 2021, Plus Xnergy established a joint venture company with Yinson Holding as Solar Asset Developer in providing the solar financing model under the Private Purchase Agreement (PPA) programme that enable businesses to enjoy solar saving at zero capax model, such as Keysight, Panasonic Automotive, LH Plus, Hershey and more.

In 2024, Plus Xnergy officially merge and became part of BM Greentech Berhad (52.6% owned by QL Resources Bhd.), marking a significant milestone in the renewable energy sector. With BM Greentech’s financial strength and extended regional reach, Plus Xnergy is now positioned to scale its impact, accelerating the clean energy transition and meeting the rising demand for sustainable infrastructure for Malaysia and Southeast Asia.

Sources:

The Edge Malaysia: BM Greentech bags RM95 mil job to develop solar plant
KLSE Screener: BM Greentech Bhd Announcement