Kuala Lumpur – October 17, 2026 -- Founder Group Limited (NASDAQ: FGL) has secured a RM19.5 million (approximately US$5 million) engineering, procurement and construction contract for a 5.5MW solar facility under Malaysia's Large Scale Solar 5 (LSS5) programme.
A solar investment company awarded the contract. Founder Group will oversee design, construction, testing and commissioning of the plant.
Plant must reach commercial operation by May 1, 2027
The project carries a guaranteed Maximum Annual Available Capacity (MAAQ) of 13,568.8 megawatt-hours (MWh) for the first two years of operation. Commercial operation is scheduled for May 1, 2027.
CEO Lee Seng Chi said the company aims to achieve energization by early 2027 and cited its track record in utility-scale projects since LSS4.
LSS5 offers 2,000MW quota, more than double earlier rounds
LSS5, also known as Peralihan Tenaga SuRiA (PETRA), is Malaysia's largest solar tender to date. Its total generation quota of 2,000MW is more than double the capacity offered in previous iterations.
The LSS PETRA and LSS PETRA 5+ rollout forms part of Malaysia's strategy under the Malaysia MADANI framework and the National Energy Transition Roadmap (NETR). The strategy supports the country's Net Zero emissions target for 2050.
LSS programme has approved 121 projects worth over RM21 billion
Since its launch in 2016, the LSS programme has approved approximately 121 projects with a combined capacity of 6,228MW. Estimated investment value exceeds RM21 billion.
Analysts maintain an "overweight" stance on Malaysia's renewable energy sector, according to the company. They cite consistent policy execution, rising quota allocations and strong solar momentum as drivers of long-term growth.