Kuala Lumpur – October 17, 2026 -- Founder Energy Sdn Bhd, a subsidiary of Nasdaq-listed Founder Group Limited (FGL), has signed a turn-key EPCC contract worth approximately RM5.58 million (US$1.37 million) to build a 1.78 MW-peak rooftop solar system for a shrimp farming and processing facility in Ayer Hitam, Kedah.
The deal is Founder Group's second solar project for the agricultural sector. It follows a shrimp farm project in Terengganu and is the company's first to combine an integrated shrimp farm with a processing plant.
Contract covers full EPCC scope and TNB grid connection
Founder Energy will manage engineering, procurement, construction and commissioning, including structural integrity assessments. It will also coordinate with national utility Tenaga Nasional Berhad (TNB) on grid connection and ensure compliance with the FM Global standard. The system is designed for a 25-year operational life and will supply power directly to the client's operations.
AI-driven O&M platform targets 24/7 uptime
Founder Group also offers long-term asset lifecycle management through its proprietary AI-driven Operations & Maintenance technology. The platform features automated diagnostics, predictive maintenance algorithms, and drone-assisted visual and thermal inspections. According to the company, it identifies anomalies and detects module defects without human intervention.
Tariff volatility pushes energy-intensive users toward distributed solar
Malaysia's National Energy Transition Roadmap (NETR) targets 70% renewable energy capacity by 2050. Market mechanisms include the Corporate Renewable Energy Supply Scheme (CRESS), the Solar ATAP programme and the upcoming Large-Scale Solar (LSS6) framework, where expected investment ranges from RM13 billion to RM15 billion (US$3.2 billion to US$3.7 billion).
Tariff adjustments under Regulatory Period 4 (RP4) and fluctuating Automatic Fuel Adjustments (AFA) are prompting energy-intensive businesses to seek distributed solar to insulate their bottom line from power cost volatility.
Malaysian aquaculture output topped 500,000 tons in 2023
According to the Department of Fisheries Malaysia, domestic aquaculture produced over 500,000 metric tons valued at approximately US$1 billion in 2023. Under the National Agro-Food Policy 2.0, the government aims to lift aquaculture to 40% of total fisheries production by 2030, which will raise power requirements across coastal and rural farming facilities.
Electricity and fuel are the second-largest controllable expense in farming operations after feed. Regional studies in Brunei and Taiwan show rooftop solar can cut aquaculture power costs by as much as 72%, while government-backed solar initiatives in Indonesia achieved up to 50% grid-electricity savings by powering continuous 24/7 pond aeration equipment.
CEO says second sector win confirms repeatability
Chief Executive Officer Lee Seng Chi said the second aquaculture contract confirms the company's solar technology is repeatable and in demand across the sector, and that solar lets operators stabilize energy costs and insulate margins against tariff volatility.