Pekat bags RM29m solar contract in Johor

KUALA LUMPUR (April 26): Pekat Group Bhd has secured a RM29.1 million contract to supply grid connected solar photovoltaic (PV) systems in Kulai, Johor.

The solar PV and earthing and lightning protection specialist said its wholly-owned subsidiary, Pekat Solar Sdn Bhd (PSSB), was awarded the contract by D&Y Textile (Malaysia) Sdn Bhd.

The solar PV systems will be supplied at three of the group's facilities at the Sedenak Industrial Park, the group said in a statement.

Pekat chief executive officer Tai Yee Chee said the project win underscores continued demand for solar PV installations amid the rising electricity pricing regime and sustained demand for green energy.

“Pekat continues to promulgate the use of clean and sustainable energy, and will continue to pursue projects as both an engineering, procurement, construction and commissioning contractor and asset owner.

“With the ongoing take-up rate and trust by clients towards Pekat’s execution capabilities, we are positive on the outlook of the solar PV sector for the rest of the year,” he added.

With this new win, Pekat has increased its order book to RM223 million.

Incorporated in 2013, D&Y Textile is engaged in the business of spinning, weaving, knitting and dyeing of textiles products.

Pekat shares closed down half a sen or 1.25% at 39.5 sen on Wednesday (April 26), bringing the group a market capitalisation of RM254.76 million.