Solarvest Q4 net profit nearly triples to RM21mil, eyes RM2bil orderbook by FY26
Revenue for the quarter surged 132 per cent year-on-year to RM224.87 million, driven by increased roll-outs of utility-scale solar projects under the Corporate Green Power Programme (CGPP).
For the full financial year (FY2025), the group posted a net profit of RM51.94 million, up 59 per cent from the previous year, while revenue rose eight per cent to RM536.82 million.
Solarvest maintained a solid project pipeline, with an unbilled order book of RM1.24 billion as of March 31, 2025, to be recognised progressively over FY2026 and FY2027.
"We are confident to reach more than RM2 billion orderbook in FY26," said executive director and chief executive officer Davis Chong Chun Shiong.
"This will be supported by additional LSS5 contracts, the anticipated LSS5+ award, as well as our active participation in battery energy storage systems and the upcoming LSS6 tenders in the second and third quarters of this calendar year.
"In light of the potential rise in Malaysia's electricity tariffs in July, we also foresee improved project feasibility under the Corporate Renewable Energy Supply Scheme to create compelling opportunities to scale beyond our orderbook target," he added.
Solarvest has capitalised on various national energy initiatives, including the Net Energy Metering 3.0 (NEM 3.0), battery energy storage system (BESS) and solar energy self-consumption (SelCo) programmes.
Its Powervest programme has secured 129 megawatt peak (MWp) in corporate power purchase agreements, expected to yield RM50.8 million in annual recurring revenue.
Looking ahead, the group is optimistic about its growth prospects, aligning with the government's target of achieving 70 per cent renewable energy in the energy mix by 2050.
Meanwhile, Solarvest assured that it is not affected by recent United States tariff developments, as its solar panels are directly sourced from China.
"Cost-wise, we expect solar panel prices to remain stable due to the prevailing supply-demand imbalance and market oversupply," Chong said.
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