KUALA LUMPUR: Solarvest Holdings Bhd today announced that Mukah Solar Powerplant Sdn Bhd (MSPSB), with Press Metal Bhd, has sealed a Power Purchase Agreement (PPA) with Syarikat SESCO Bhd (SESCO), a wholly-owned subsidiary of Sarawak Energy BHd (SEB), for the development of a 100-megawatt alternating current (MWac) solar photovoltaic (PV) energy generating facility in Mukah, Sarawak.
Under the agreement, MSPSB will design, construct, own, operate and maintain the Mukah solar PV plant.
The project is scheduled for commercial operation by November 30, 2027 and will require an estimated investment cost of RM380 million, to be financed primarily through bank facilities, while Solarvest’s equity portion will be funded internally.
Solarvest Group Chief Strategy Officer and Executive Director, Leon Liew Chee Ing, said the project marks a significant step forward in Sarawak’s renewable energy (RE) journey, and the company is proud to play a central role in delivering one of the state’s largest clean energy projects.
“Once operational, the plant is expected to offset around 46,000 tonnes of carbon dioxide emissions annually, supporting Malaysia’s broader path toward a low-carbon economy.
“The Mukah solar PV plant is aligned with Sarawak’s Energy Transition Strategy (SET-P) and Post COVID-19 Development Strategy (PCDS) 2030, both of which are designed to strengthen Sarawak’s RE ecosystem and accelerate the shift toward a low-carbon future,” he said.
“These frameworks target 10GW (gigawatt) of installed capacity by 2030, rising to 15GW by 2035, with renewables making up at least 60 per cent of the energy mix. We see the Mukah solar PV plant as an energy generation project and a catalyst for Sarawak to emerge as a regional RE hub in line with Malaysia’s net-zero aspirations.”
Liew added that the project further strengthens the company’s position in Sarawak’s Engineering, Procurement, Construction and Commissioning (EPCC) market and gives additional momentum to our growing orderbook.
“We anticipate our orderbook to rise to a new high of approximately RM3.0 billion by the end of the financial year, driven by more Large-Scale Solar (LSS5) and LSS5+ EPCC wins and additional projects in Borneo,” he elaborated.
“More importantly, the Mukah solar PV plant reinforces our long-term commitment to Sarawak, where we aim to deepen our role as a trusted partner in driving clean energy development and supporting the state’s sustainable economic growth.”
Meanwhile, this project is expected to create around 1,500 to 2,000 direct and indirect job opportunities for local workers during both the construction and operational phases, delivering direct benefits to the community.
Beyond employment opportunities, it empowers rural communities to lead in the clean energy transition, building a brighter, more sustainable future for both the environment and the local economy.
MSPSB is a special purpose vehicle (SPV) jointly owned by Solarvest Asset Management (Borneo) Sdn Bhd, an indirect wholly-owned subsidiary of Solarvest, with a 60 per cent equity stake, while Press Metal Bhd, an indirect wholly-owned subsidiary of Press Metal Aluminium Holdings Bhd, holds the remaining 40 per cent.
