Kuala Lumpur – October 17, 2026 -- Founder Group Limited (NASDAQ: FGL) has secured an engineering, procurement, construction and commissioning (EPCC) contract valued at RM34 million (about US$8.6 million) under Malaysia's Large Scale Solar 5 (LSS5) programme, lifting its total LSS5 contract value to about RM70 million (about US$17.7 million).
The company won the contract in collaboration with a solar investment company that the source does not name.
Founder Group will build a 9.5 MW facility due online by May 1, 2027
Under the newly signed contract, Founder Group will handle design, construction, testing and commissioning of the 9.5 MW solar facility. The company agreed earlier this month to build the facility under LSS5. Commercial operation is scheduled for no later than May 1, 2027.
LSS5 supports Malaysia's 70% renewable capacity target
LSS5, also known as Peralihan Tenaga SuRiA (PETRA), forms part of the Malaysian government's push to reach 70 percent renewable-energy installed capacity and carbon neutrality by 2050.
MBSB Research expects LSS6 to add 2 GW and require battery storage
MBSB Investment Bank Bhd (MBSB Research) said Malaysia may soon launch LSS6, potentially adding another 2 GW of solar capacity alongside requirements for battery energy storage systems (BESS). MBSB said the launch could support a multi-year growth trajectory for solar players. It projects solar will account for more than half of Malaysia's power capacity mix by 2050.
Founder Group targets LSS6 and CRESS contracts to build recurring revenue
Chief Executive Officer Lee Seng Chi said the award, which follows the company's LSS5 award earlier this month, reflects growing trust in its technical capability. The company aims to use the milestone to pursue contracts under LSS6, Corporate Renewable Energy Sourcing Schemes (CRESS) and regional solar opportunities, with the goal of building sustained recurring revenue.