Founder Group Limited Secures US$4 million 25.4MW Utility-Scale Solar Contract under Malaysia's CGPP Programme
MWN-AI** Summary
Founder Group Limited (NASDAQ: FGL), a prominent clean energy provider in Malaysia, has secured a significant contract valued at approximately RM16 million (US$4.14 million) for a 25.40MW utility-scale solar project. This initiative is part of Malaysia’s Corporate Green Power Programme (CGPP), aimed at promoting corporate decarbonization through innovative financial structures such as Virtual Power Purchase Agreements (VPPAs) and fostering the installation of renewable energy systems.
Under the terms of the Engineering, Procurement, Construction, and Commissioning (EPCC) contract, Founder Group will manage the comprehensive supply chain, including civil and structural works, and the installation of solar Photovoltaic (PV) systems. This project is expected to produce around 53,000 MWh of clean energy annually, contributing to a reduction of about 35,000 tonnes of carbon dioxide emissions, as well as generating approximately 53,000 Renewable Energy Certificates (RECs) to aid corporate clients in achieving their sustainability goals.
The award of this contract is strategically significant for Founder Group, bolstering its presence in Malaysia's growing utility-scale solar sector and enhancing its potential for multi-year revenue streams. CEO Lee Seng Chi expressed optimism about this milestone, emphasizing the company's growing role in Malaysia's energy transition and its strong execution capabilities under the CGPP framework. He indicated that this contract would not only augment their current order book but also support the company’s aspirations for long-term growth and additional project acquisitions.
As a provider of end-to-end EPCC solutions for solar PV facilities, Founder Group is dedicated to facilitating the expansion of renewable energy usage in Malaysia, striving for innovation and carbon neutrality in its operations. This recent achievement underscores the company’s vision and commitment to advancing sustainable energy practices in the region.
MWN-AI** Analysis
Founder Group Limited (NASDAQ: FGL) has recently secured a significant contract for a 25.4MW utility-scale solar project in Malaysia, amounting to approximately RM16 million (US$4.14 million) under the government's Corporate Green Power Programme (CGPP). This initiative not only highlights Malaysia’s commitment to decarbonization through renewable energy solutions but also positions Founder Group as a key player in the burgeoning utility-scale solar market.
From a market perspective, this strategic win enhances Founder Group's visibility and solidifies its position within the competitive renewable energy sector. The expected generation of around 53,000 MWh of clean energy annually aligns with current corporate sustainability trends, increasing demand for Renewable Energy Certificates (RECs). This factor can likely attract more corporate clients seeking to align with environmental goals, thereby establishing a reliable revenue stream.
Investors should monitor the evolving landscape as Malaysia accelerates its utility-scale solar deployment. Founder Group's ongoing engagement in additional LSS5 and LSS5+ programmes and the Corporate Renewable Energy Sourcing Scheme (CRESS) indicates a proactive approach to diversifying its project portfolio and tapping into future growth opportunities.
As the company continues to build its EPCC order book, potential profitability can be anticipated from multi-year contracts. Furthermore, the management’s commitment to scaling operations should fuel investor confidence. It’s advisable to consider Founder Group as a viable investment opportunity, particularly in the context of the global shift towards sustainability and clean energy solutions.
However, potential investors must remain cautious regarding market risks, supply chain uncertainties, and regulatory changes that could impact the sector. Continuous assessment of these factors, combined with an eye on Founder Group’s performance and project developments, will be crucial for informed investment decisions.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
KUALA LUMPUR, Malaysia, March 09, 2026 (GLOBE NEWSWIRE) -- Founder Group Limited (NASDAQ: FGL) (“Founder Group” or the “Company”), a regional clean energy expert in Malaysia, today announced that it has been awarded an approximately RM16 million (US$4.14 million) Engineering, Procurement, Construction, and Commissioning (EPCC) contract for a 25.40MW large?scale solar (LSS) project in Malaysia.
Strategic Importance of the Corporate Green Power Programme (CGPP) Award
The project is part of Malaysia’s Corporate Green Power Programme (“CGPP”), a government?backed initiative designed to accelerate corporate decarbonization through Virtual Power Purchase Agreements (VPPAs) and the deployment of new utility?scale solar capacity nationwide.
Under the contract, Founder Group will undertake supply, civil and structural works, testing, commissioning and interconnection facility of the solar Photovoltaic (PV) facility. The project is expected to generate approximately 53,000 MWh of clean energy annually, offsetting around 35,000 tonnes of carbon dioxide emissions. It is also anticipated to contribute roughly 53,000 Renewable Energy Certificates (“RECs”) to the market, supporting corporate consumers in meeting their sustainability commitments.
This award strengthens Founder Group’s position in Malaysia’s fast?growing utility?scale solar segment and enhances the Company’s visibility into recurring, multi?year revenue opportunities.
Strategic Outlook
Founder Group continues to pursue additional LSS5 and LSS5+ programmes, the Corporate Renewable Energy Sourcing Scheme (CRESS) and regional solar tenders. The Company views this contract as a meaningful milestone that reinforces its competitiveness and supports the expansion of its EPCC order book.
“This award reinforces Founder Group’s growing role in Malaysia’s energy transition and demonstrates our strong execution track record under the CGPP framework,” said Lee Seng Chi, Chief Executive Officer of Founder Group Limited. “As Malaysia accelerates its utility?scale solar rollout, Founder Group is well?positioned to capture a larger share of upcoming tenders and expand our presence in high?value EPCC projects. We expect this contract to contribute meaningfully to our order book and to support the development of recurring revenue streams as we continue to scale. We look forward to announcing additional project wins that further strengthen our market position and long-term growth trajectory.”
About Founder Group Limited
Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities in Malaysia. The company’s primary focus is on two key segments: large-scale solar projects and commercial and industrial (C&I) solar projects. The company’s mission is to provide customers with innovative solar installation services, promote eco-friendly resources and achieve carbon neutrality.
For more information on the Company, please visit https://www.founderenergy.com.my/.
Safe Harbor Statement
This press release contains forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties and other factors, including those listed under “Risk Factors” in the Company’s filings with the U.S. Securities and Exchange Commission, may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.
CONTACT INFORMATION:
For media queries, please contact:
Founder Group Limited
info@founderenergy.com.my
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com
FAQ**
How does Founder Group Limited, recognized as a regional clean energy expert in Malaysia, intend to utilize the momentum from the contract, particularly in relation to its operations similar to Fidelity & Guaranty Life FGL in the solar energy sector?
In what ways does the Corporate Green Power Programme (CGPP) resemble or differ from initiatives by Fidelity & Guaranty Life FGL, particularly in advancing corporate decarbonization?
Given the $4.14 million EPCC contract awarded to Founder Group, how might this impact its competitive standing against companies like Fidelity & Guaranty Life FGL in the clean energy marketplace?
What strategies does Founder Group have in place to enhance visibility and recurring revenue flows from projects like the one awarded under the CGPP, specifically when compared to approaches taken by Fidelity & Guaranty Life FGL?
**MWN-AI FAQ is based on asking OpenAI questions about Fidelity & Guaranty Life (NASDAQ: FGL).
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