Company Overview - Founder Group Limited has been awarded a conditional Letter of Award (LOA) valued at approximately US$68 million (around RM299,260,000) for the development of a 100-megawatt solar farm in Tanjung Malim, Malaysia [1] - The company will serve as the Engineering, Procurement, and Construction (EPC) partner for this project, which will provide 100MW of export capacity to power an advanced AI data center in Enstek City, Malaysia [1] - Founder Group focuses on large-scale solar projects and commercial and industrial solar projects, aiming to promote eco-friendly resources and achieve carbon neutrality [4] Industry Insights - Malaysia's solar EPCC services industry is projected to reach approximately US$350 million (about RM1.5 billion) by 2026, with a compound annual growth rate (CAGR) of 23.5% [3] - The growth in the industry is driven by Malaysia's commitment to renewable energy, highlighted by the National Energy Transition Roadmap (NETR) launched in August 2023, which aims to enhance renewable energy capacity [3] - The roadmap emphasizes solar installations, renewable energy zones, and utility-scale storage systems, creating significant opportunities for EPCC firms as Malaysia accelerates its renewable energy development [3]
Founder Group Secures Conditional Letter of Award Worth Approximately US$68 Million for a 100MW Solar Farm in Malaysia