- Follows RM119.4 million in LSS5-related contracts secured in March 2026, bringing combined recent large-scale solar awards to approximately RM153.4 million.
- Unbilled order book stands at RM189.3 million as at 30 June 2026
- The new facility is scheduled for commercial operation by 1 May 2027, with expected positive earnings contributions starting from the financial year ending 31 March 2027.
- The Ministry's new CRESS Acceleration Package supports the development of additional renewable-energy capacity, creating potential near-term opportunities for established solar EPCC providers.
KUALA LUMPUR, 7 OCTOBER 2026 – Northern Solar Holdings Berhad (“Northern Solar” or “the Group”) has secured another large-scale solar assignment through the acceptance of a RM34 million Letter of Award (LOA) for the EPCC of a 9.50MW solar PV plant.
The LOA was accepted today by the Group's wholly-owned subsidiary, Northern Solar Sdn Bhd. The project is scheduled to achieve commercial operation no later than 1 May 2027 and is expected to contribute positively to the Group’s earnings and net assets per share from the financial year ending 31 March 2027 onwards. The identity of the awarding party has not been disclosed pursuant to a confidentiality provision within the LOA.
This latest award builds on Northern Solar’s expanding utility-scale project portfolio. It follows RM119.4 million in LSS5-related awards secured in March 2026, which are currently in the delivery phase. The new 9.50MW project brings the combined value of these recent large-scale solar assignments to approximately RM153.4 million, adding significant scale beyond the Group's core commercial, industrial, and residential solar activities.
As at 30 June 2026, the Group’s unbilled order book stood at RM189.3 million, providing clear revenue visibility.
Mr. Lew Shoong Kai, Managing Director of Northern Solar Holdings Berhad, commented on the contract win:
“This award adds another large-scale solar assignment to our business, building on the engineering and project-delivery experience we have developed across different customer segments. Our priority is to deliver each project to the required specifications and schedule, while maintaining strict discipline on costs, working capital, and execution risk.”
The broader renewable energy outlook is supported by recent enhancements to the Corporate Renewable Energy Supply Scheme (CRESS), which allows developers to supply electricity directly to corporate consumers through the national grid.
On 18 September 2026, the Ministry of Energy Transition and Water Transformation (PETRA) announced the CRESS Acceleration Package to improve project financing prospects and accelerate new capacity.
The package reduces the system access charge for eligible firm supply to 14 sen/kWh (down from 20 sen/kWh) and introduces a ten-year contractual period. Projects must achieve commercial operation by 31 December 2028 to qualify. PETRA also reported that registered developers and consumers currently represent 3,148MW of project capacity, indicating the immense scale of market interest.
Mr. Lew Shoong Kai added:
“Lower grid-access charges and greater contractual certainty can help developers move projects towards financing and construction. As these projects progress, they create additional demand for engineering, construction, and commissioning services.
“We see clear opportunities to apply our solar EPCC experience across larger projects and solar-plus-storage systems. We will remain highly selective, taking on work only where our technical resources, execution capacity, and commercial terms support reliable delivery.”
The Group will continue to focus on executing its awarded projects and pursuing suitable opportunities across distributed and large-scale solar segments, while progressively developing its internal capabilities in energy storage and renewable-energy asset ownership.
