PETALING JAYA: NuEnergy Holdings Bhd

will invest in the development of solar photovoltaic (PV) facilities with an aggregate capacity of 21MWp across 49 rooftop sites at the premises of a government agency, worth RM48.76mil.

In a filing, Nuenergy said the project adds to its portfolio of owned renewable energy assets, generating recurring energy income over the term of the offtake arrangements and broadening its earnings base beyond project-based engineering and construction income.

It added that the development will be undertaken by the subsidiary of the government agency as the main engineering, procurement, construction and commissioning contractor.

“The facilities are targeted to be completed by the second quarter of 2027.”