Solarvest sees sunny prospects ahead

by SHAZNI ONG / pic credit:

SOLARVEST Holdings Bhd has ramped up efforts to expand in the domestic and overseas markets, with group CEO Davis Chong Chun Shiong saying the company continues to see strong demand for solar photovoltaic (PV) systems across all segments, despite the uncertainties arising from the global Covid-19 pandemic.

“Our engineering, procurement, construction and commissioning (EPCC) project tenders are increasing as more corporates are turning to solar for their economic benefits, while fulfilling their sustainability goal,” he said after the company’s virtual third AGM yesterday.

For the financial year 2020, its revenue from the residential, commercial and industrial segments grew 152% year-on-year and the uptake of rooftop projects will continue, given the attractive and stable return it offers.

Chong, in a release yesterday, noted that rooftop projects make up more than 90% of Solarvest’s current orderbook.

Solarvest is building up its inventories and financial capacity to strengthen its footing and prepare for the pipeline of projects in Malaysia, especially the upcoming largescale solar (LSS) project, LSS@ Mentari.

“To capitalise on this development, we will be partaking in the programme as joint asset owner in addition to our bid for EPCC projects,” he said.

Solarvest is also looking to grow its international presence, with the Philippines being the first target market and next, would be Taiwan.

Besides that, the solar PV system specialist is also moving towards digitalisation of solar PV solutions through Artificial Intelligence of Things or AIoT.