Brunei, 16 June 2025 – Regional clean energy infrastructure developer, Solarvest Holdings Berhad (“Solarvest” or the “Group”), through its wholly-owned subsidiary, Atlantic Blue Sdn Bhd, has secured Brunei’s largest national solar project via a joint venture company, Seri Suria Power (B) Sdn Bhd, in partnership with Serikandi Oilfield Services Sdn Bhd and Khazanah Satu Sdn Bhd.
Set to commence in the third quarter of 2025, the appointment permits Seri Suria Power (B) Sdn Bhd to invest, build, and operate a 30MW Solar Photovoltaic Power Plant (“SPVPP”) located on a 33.29-hectare remediated landfill in Kampong Belimbing, Mukim Kota Batu. Upon completion by the end of 2026, the project is expected to be the largest SPVPP in Brunei Darussalam, generating an annual output of 64,473,000 kWh, with a potential to offset about 645,000 MMBtu of natural gas and 92 million tonnes of carbon dioxide.
The project was formalised on 14 June 2025, following the signing of three pivotal agreements:
- Joint Venture Agreement between Khazanah Satu Sdn Bhd, Serikandi Oilfield Services Sdn Bhd and Atlantic Blue Sdn Bhd (a wholly owned subsidiary of Solarvest Holdings Berhad).
- Land Lease Agreement between Seri Suria Power (B) Sdn Bhd with the Government of Brunei Darussalam represented by the Department of Energy, Prime Minister’s Office.
- 25-year Power Purchase Agreement between Seri Suria Power (B) Sdn Bhd and the Government of Brunei Darussalam represented by the Department of Electrical Services, Prime Minister’s Office.
The signing ceremony was officiated by Yang Berhormat Pehin Datu Lailaraja Major General (Retired) Dato Paduka Seri Awang Haji Halbi Bin Haji Mohd Yussof, Minister at the Prime Minister’s Office and Minister of Defence II and Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew Abdullah, Minister at the Prime Minister’s Office and Minister of Finance and Economy II, alongside Deputy Ministers, Permanent Secretaries, Deputy Permanent Secretaries from the Prime Minister’s Office and Ministry of Finance and Economy.
The project originated from a Request for Proposal (“RFP”) process launched in 2021, which attracted wide interest from both local and international solar developers. As part of the RFP requirements, participating developers were mandated to form joint ventures with Government-Linked Companies to ensure national participation and capacity building. This exercise creates confidence in Brunei’s capability to achieve the national aspiration of 30% renewable energy mix.
The initiative aligns with Brunei’s commitment to reduce greenhouse gas (“GHG”) emissions by 20% from Business-As-Usual (“BAU”) levels by 2030 and supports the country’s goal of diversifying fuel sources in the power sector while reducing reliance on fossil fuels. In addition to environmental benefits, the SPVPP will generate new opportunities for local businesses and contribute to local economic development through related activities.
Chairman and Managing Director of Serikandi Oilfield Services, Shaikh Khalid bin Shaikh Haji Ahmad shared, “We applaud the Brunei Government’s forward-thinking measures and supportive regulatory framework, which ensure the effective execution of the national clean energy transition plan. Alongside various initiatives introduced over the years, this project reaffirms our commitment to a progressive path toward a dynamic and sustainable economy, aligned with prevailing global economic trends. With our extensive experience in providing engineering and construction services in the oil and gas industry, Serikandi is well-positioned to seize emerging opportunities in Brunei Darussalam’s growing new and renewable energy sector—opening up job opportunities for Bruneian citizens.”
Executive Director and Group Chief Strategy Officer of Solarvest, Mr Leon Liew Chee Ing (刘骐英) shared, “In 2024, Brunei’s electricity consumption totalled 3,242 GWh, with 95% generated from fossil fuels—highlighting an urgent need for a clean energy transition. The Brunei Government’s commitment to renewable energy is truly commendable, given the nation’s abundance of fossil fuels. This milestone marks a proud moment for both Solarvest and Serikandi as we support Brunei’s journey toward a more sustainable energy future. Leveraging our technical expertise and regional experience, we are honoured to play a part in delivering the nation’s largest solar initiative.”