Solarvest secures solar PV installation project with US-based Dexcom in Malaysia

KUALA LUMPUR (July 26): Solarvest Holdings Bhd has secured a contract from a US-based company in Malaysia to install a 3.6 megawatt-peak (MWp) solar photovoltaic (PV) system at its manufacturing facility in Batu Kawan, Penang.

Solarvest will provide engineering, procurement, construction and commission (EPCC) services to Dexcom Malaysia Sdn Bhd to install rooftop solar PV at Dexcom’s main building facilities and carpark, according to a joint statement from the company and the Malaysian Investment Development Authority (Mida).

The installation will allow Dexcom to offset 3,190 tonnes of carbon dioxide. Dexcom is a subsidiary of the US-based DexCom Inc, an industry-leading provider of continuous glucose monitoring systems. The manufacturing facility in Batu Kawan is its first overseas facility.

“The growing recognition of sustainability’s significance in business operations has led to a surge in the adoption of clean energy by corporations. As a result, our job pipeline remains strong, with a tender book of approximately 2.5 gigawatts (GW) across Malaysia, Taiwan, Philippines, Vietnam, Indonesia, Singapore and Thailand,” said Solarvest executive director and group chief executive officer Davis Chong Chun Shiong.

The group is targeting to boost its current unbilled order book of RM550 million by leveraging on the release of the 800 MW solar PV assets quota under the Corporate Green Power Programme (CGPP).

Mida CEO Datuk Arham Abdul Rahman said Dexcom’s continued investment in enhancing its operations aligns with Malaysia’s ambitious goal of achieving net-zero carbon emissions as early as 2050. “Mida is dedicated to positioning Malaysia as the preferred sustainable investment destination by leading players in the global value chain, and it is the presence of strong local players like Solarvest that reinforces our commitment,” he said.

Solarvest shares gained four sen or 3.17% to close at RM1.30 on Wedesday, valuing the company at RM867.82 million.