KUALA LUMPUR (March 6): Solarvest Holdings Bhd has formed a consortium with a solar energy solutions provider based in the Philippines to provide rural electrification in Mindanao Island there.

In a statement on Monday (March 6), Solarvest said it is partnering with Edward Marcs Philippines Inc to work with Philippine government-owned National Power Corporation (NPC) to construct electricity distribution systems in rural areas.

Small grid-connected solar photovoltaic (PV) power plants will be installed at distribution substations within the geographical region.

“Solarvest was appointed as the engineering, procurement, construction, and commissioning solutions provider for the project,” the company said.

The project is administered by the World Bank and funded by the European Union under the Access to Sustainable Energy in the Philippines Programme that aims to provide affordable, clean, and disaster-resilient energy systems to isolated communities in the Philippines.

“We are honoured to work with NPC to construct grid-connected solar PV plants in supporting secluded households and communities in a sustainable manner.

“Other than introducing new energy generation capacity as a competitive approach to brown energy alternatives, this project is an important step for us to advance our regional expansion agenda and expand within the Philippine market,” said Solarvest group chief executive officer Davis Chong Chun Shiong.

He added that Solarvest is confident of its expertise as a regenerative partner to uplift the quality of life by providing access to green electricity.

Shares in Solarvest closed 2.5 sen or 2.7% higher at 95 sen each, giving the company a market capitalisation of RM630.77 million.