Founder Group Limited Secures US$5 Million EPC Contract for a 5.5MW Solar Plant under Malaysia's LSS5 PETRA Programme
MWN-AI** Summary
Founder Group Limited (NASDAQ: FGL), a prominent provider of engineering, procurement, construction, and commissioning (EPCC) services for solar photovoltaic (PV) systems in Malaysia, has announced securing a significant EPC contract worth RM19.5 million (approximately US$5 million) for a 5.5 MW solar facility. This contract is part of Malaysia’s Large Scale Solar 5 (LSS5) programme, known as the Peralihan Tenaga SuRiA (PETRA) initiative, which is the country's largest solar tender to date, aiming to significantly expand Malaysia's renewable energy capacity.
The LSS5 programme seeks to fulfill Malaysia's renewable energy goals, supporting the nation’s ambition for achieving net-zero emissions by 2050 under the Malaysia MADANI framework and the National Energy Transition Roadmap (NETR). So far, the LSS initiative has approved about 121 projects with a combined capacity of 6,228 MW and investments exceeding RM21 billion, marking it as a pivotal element in the country’s renewable energy landscape.
Under this newly-acquired contract, Founder Group will manage all stages of the project, from design to construction, testing, and commissioning. The solar facility is committed to delivering a Maximum Annual Available Capacity (MAAQ) of 13,568.8 megawatt-hours (MWh) during its first two years of operation, with plans to commence commercial operations by May 1, 2027.
CEO Lee Seng Chi expressed pride in the contract win, emphasizing the company's commitment to technical excellence and operational agility to ensure the success of the project. The positive market sentiment surrounding the Malaysian renewable energy sector reinforces Founder Group’s standing as a preferred EPCC partner in the region.
MWN-AI** Analysis
**Market Analysis and Advice on Founder Group Limited (NASDAQ: FGL)**
Founder Group Limited's recent achievement of securing a US$5 million EPC contract for a 5.5MW solar facility is a significant milestone, positioning the company favorably within Malaysia's burgeoning renewable energy sector. The LSS5 PETRA programme, touted as Malaysia's most extensive solar initiative, reflects a strong commitment to renewable energy, providing a favorable backdrop for companies involved in this space.
Analysts currently maintain an "overweight" stance on the renewable energy sector, which conveys a bullish sentiment. This trend is driven by elevated governmental support for solar projects and their alignment with Malaysia's goals to achieve net-zero emissions by 2050. The fact that Founder Group has successfully navigated prior rounds of LSS projects (specifically LSS4) establishes credibility and a solid reputation as a reliable EPCC partner. This positioning is essential to capture projected growth opportunities.
Considering the project’s scope, with a guaranteed Maximum Annual Available Capacity (MAAQ) of 13,568.8 MWh, the contract will likely yield stable revenue streams. The completion timeline targeting commercial operation by May 2027 suggests a promising lead time to capitalize on favorable market dynamics.
Investors should remain attentive to macroeconomic indicators, particularly those influencing the renewable energy landscape in Malaysia. Factors such as government policy stability, advances in solar technology, and evolving sustainability commitments could enhance valuations and profitability for companies like Founder Group.
In summary, maintaining investments in Founder Group Limited appears prudent, given its pioneering position within the renewable sector, strong project visibility, and supportive policies. Investors should consider positioning in FGL while keeping an eye on operational performance and market developments that could impact future growth trajectories.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
KUALA LUMPUR, Malaysia, March 16, 2026 (GLOBE NEWSWIRE) -- Founder Group Limited (NASDAQ: FGL) (“Founder Group” or the “Company”), a leading engineering, procurement, construction, and commissioning (EPCC) solutions provider for solar photovoltaic (PV) systems in Malaysia, today announced that it has secured a RM19.5 million (approximately US$5 million) EPC contract for a 5.5MW solar facility. The contract was awarded by a prominent solar investment company under Malaysia’s Large Scale Solar 5 (“LSS5”) programme.
The LSS5 programme, also known as Peralihan Tenaga SuRiA (PETRA), represents Malaysia’s largest solar tender to date. With a total generation quota of 2,000 megawatts (MW), LSS5 more than doubles the capacity offered in previous iterations, underscoring the accelerating momentum of the country’s renewable energy sector.
The rollout of LSS PETRA and LSS PETRA 5+ is a key component of Malaysia’s broader strategy to accelerate renewable-energy deployment under the Malaysia MADANI framework and the National Energy Transition Roadmap (NETR), supporting the nation’s target of achieving Net Zero emissions by 2050.
Since its inception in 2016, the LSS programme has been a major catalyst for Malaysia’s Renewable Energy (RE) industry. To date, approximately 121 Large Scale Solar (“LSS”) projects have been approved, representing a combined capacity of 6,228 MW and an estimated investment value exceeding RM21 billion.
Project Scope and it’s Deliverable
Under the newly-secured contract, the Founder Group will oversee the design, construction testing and commissioning of the 5.5 MW solar facility. The project is expected to deliver a guaranteed Maximum Annual Available Capacity (MAAQ) of 13,568.8 megawatt?hours (MWh) during its first two years of operation. The project has committed to delivering a guarantee of Maximum Annual Available Capacity (MAAQ) guarantee of 13,568.8 megawatts- per hour (MWh) for the first initial two years of power generation operation period. The project is scheduled to achieve commercial operation by May 1, 2027.
The contract win aligns with positive market sentiment regarding Malaysia’s renewable energy landscape. Analysts maintain an "overweight" stance on the sector, citing consistent policy execution, increasing quota allocations, and strong momentum in the solar segment as key drivers of long?term growth.
“Building on our proven track record in delivering utility-scale projects since LSS4, we are proud to play a key role in this landmark LSS5 cycle,” said Lee Seng Chi, Chief Executive Officer of Founder Group Limited. “Our team remains committed to the technical excellence and operational agility required to ensure successful energization by early 2027, further strengthening our position as a preferred EPCC partner in the region.”
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 the recent EPC contract awarded to Founder Group Limited (FGL) for a solar facility impact its competitive position in the industry compared to companies like Fidelity & Guaranty Life FGL?
In what ways does the Large Scale Solar 5 (LSS5) programme influence investor confidence in Founder Group Limited (FGL) as a key player in the renewable energy sector, relative to Fidelity & Guaranty Life FGL?
What specific strategies please Founder Group Limited (FGL) to ensure timely project completion by May 1, 2027, and how does this compare to project execution strategies employed by Fidelity & Guaranty Life FGL?
Considering the Malaysian government’s support for the renewable energy sector, how might the growth trajectory of Founder Group Limited (FGL) present investment opportunities similar to those of Fidelity & Guaranty Life FGL?
**MWN-AI FAQ is based on asking OpenAI questions about Founder Group Limited (NASDAQ: FGL).
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