Kuala Lumpur, 3 October 2025 – Regional clean energy expert, Solarvest Holdings Berhad (“Solarvest” or the “Group”) today announced that Mukah Solar Powerplant Sdn. Bhd. (“MSPSB”), its special purpose vehicle (“SPV”) with Press Metal Berhad (“Press Metal”), has entered into a Power Purchase Agreement (“PPA”) with Syarikat Sesco Berhad (“SESCO”), a wholly-owned subsidiary of Sarawak Energy Berhad (“Sarawak Energy”), for the development of a 100-megawatt alternating current (“MWac”) solar photovoltaic (“PV”) energy generating facility in Mukah, Sarawak (“Mukah solar PV plant”).
MSPSB is a SPV jointly owned by Solarvest Asset Management (Borneo) Sdn. Bhd., an indirect wholly-owned subsidiary of Solarvest, with a 60% equity stake, while Press Metal Berhad, an indirect wholly-owned subsidiary of Press Metal Aluminium Holdings Berhad, holds the remaining 40%.
Under the agreement, MSPSB will design, construct, own, operate and maintain the Mukah solar PV plant. The project is scheduled the commercial operation date on 30 November 2027 and will require an estimated investment cost of RM380 million, to be financed primarily through bank facilities, while Solarvest’s equity portion funded internally.
Executive Director and Group Chief Strategy Officer of Solarvest, Mr. Leon Liew Chee Ing (刘骐英) said, “The Mukah solar PV plant marks a significant step forward in Sarawak’s renewable energy (“RE”) journey, and Solarvest 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. 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.”
“For Solarvest, this project further strengthens our position in the Sarawak 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 financial year, driven by more LSS5 and LSS5+ EPCC wins and additional projects in Borneo. 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.”
This project is expected to create around 1500 to 2000 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.
Beyond this project, Solarvest is contributing to Sarawak’s economy through clean energy investments, technical collaborations, and local job creation. Together with the Centre of Technology Excellence Sarawak (“CENTEXS”) and Huawei Technologies (Malaysia) Sdn. Bhd. (“Huawei”), the Group has launched the Green Energy Lab in Sarawak to equip over 1,000 Sarawakians over five years since 2023 with practical skills in solar and green energy technologies, creating opportunities for inclusive growth in the energy transition. By expanding its footprint EPCC in Borneo, Solarvest is strengthening its role in shaping Sarawak’s RE landscape for years to come.