Kuala Lumpur – October 17, 2026 -- Nasdaq-listed Founder Group Limited (FGL) is tendering through its subsidiary Founder Energy Sdn. Bhd. for projects under Malaysia's Large-Scale Solar 6 (LSS6) programme, which is expected to draw RM13 billion to RM15 billion (US$3.2 billion to US$3.7 billion) in private investment.
PETRA offers 2,500MW of solar and 1,250MW of battery storage under LSS6
The Ministry of Energy Transition and Water Transformation (PETRA) launched LSS6 in July 2026. The quota covers 2,500MW of solar capacity paired with 1,250MW of battery energy storage system (BESS) capacity. A further 150MW of solar capacity is reserved for Bumiputera companies in Peninsular Malaysia.
Projects will be commissioned in phases, with full commercial operation targeted by December 31, 2029. LSS6 is the first LSS round to mandate hybrid solar-BESS development. Founder Group says this creates an engineering, procurement, construction and commissioning (EPCC) market of comparable scale, which is the segment Founder Energy is bidding into.
Founder Energy cites 70 projects and RM520 million in contract value
Founder Energy has taken part in more than 70 solar EPCC and sub-EPCC projects across Peninsular Malaysia. Its work spans LSS rounds since 2016, the Corporate Green Power Programme (CGPP), independent power producer (IPP) and Self-Consumption (SELCO) schemes, floating solar, and commercial and industrial rooftop installations.
The completed and ongoing projects cover more than 1GWp of DC solar capacity, with an aggregate contract value of about RM520 million (US$128.6 million). The company says it has won both direct EPCC awards and sub-EPCC packages alongside established industry participants, and it intends to use the same approach on LSS6.
Company expects order book to grow progressively through 2029
Founder Group expects its order book to expand as tender awards are made and construction packages begin, through the December 2029 commercial operation target.
The company also plans to pursue recurring revenue from its proprietary AI-driven operations and maintenance (O&M) technologies. It argues that the mandatory BESS component and decades of post-2029 operation extend revenue beyond the construction phase into long-term asset management.
Chief Executive Officer Lee Seng Chi said the company is already active in the market. He pointed to collaboration with leading Malaysian and international solar companies expected to win LSS6 packages, and said Founder Group will "replenish our order book with new contracts" over the next four years.