Hektar REIT taps Samaiden for solar rollout across five malls
Under the partnership, solar photovoltaic (PV) systems will be installed across five Hektar REIT's shopping centres under a zero upfront capital model.
Samaiden will lead the end-to-end execution while Hektar REIT will benefit from a fixed clean energy supply rate.
In a joint statement, both parties said this structure helps mitigate electricity price volatility and contributes to financial stability through predictable energy costs.
The initiative is expected to generate long-term energy cost savings of about RM41.3 million over the partnership period while avoiding an estimated 98,640 tonnes of carbon emissions.
"By integrating rooftop solar PV systems across our malls, we are not only reducing our carbon footprint, but also increasing energy efficiency and lowering the total electricity consumption, potentially by up to 15 per cent annually compared to the previous year.
"This is a strategic move that supports national climate commitments while delivering tangible returns to our unitholders, tenants, and communities," said Hektar Asset Management Sdn Bhd chief executive officer Zainal Iskandar Ismail.
Samaiden group managing director Datuk Chow Pui Hee said the company's zero-capex solar programme provides businesses with the opportunity to integrate sustainable energy solutions without financial barriers.
"As one of Malaysia's leading renewable energy providers, Samaiden is committed to delivering innovative solar solutions that support carbon reduction and enhance energy resilience.
"By partnering with forward-thinking industry players like Hektar REIT, we hope to drive greater adoption of solar energy in Malaysia's commercial and retail sectors," she added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
4 days ago
- The Star
Samaiden gets profit enhancement via new RE jobs
TA Research estimated a gross aggregate capital expenditure of RM171mil for the upcoming FiT assets. PETALING JAYA: Samaiden Group Bhd 's recent contract wins in the renewable energy (RE) sector indicate a potential 20% enhancement to its annual earnings and a 10% valuation enhancement once all three projects come online. In a report, TA Research said under the latest Feed in Tariff (FiT) 2.0 bidding cycle, Samaiden secured contracts to develop three new bioenergy power generation plants with aggregate gross capacity of 18MW. The three contracts that were won separately include a 1.5 megawatt (MW) biogas plant in Bachok, Kelantan, a 5.5MW biomass plant in Tangkak, Johor and a 11MW biomass plant in Kemaman, Terengganu. TA Research said the positive trajectory for Samaiden's earnings and valuation is based on a high single-digit pooled internal rate of return and a capital expenditure (capex) of circa RM10mil per MW. All three assets are expected to be commissioned by July 25, 2028 and will operate under the 21-year RE power purchase agreement. The research house estimated a gross aggregate capital expenditure of RM171mil for the upcoming FiT assets. 'The gross equity portion of the capital expenditure capex, estimated at RM34mil, should be manageable considering the group's financial year 2027 (FY27) gross cash of RM120mil,' TA Research pointed out. The research house added it would make no changes to earnings projections as the assets are only expected to come onstream in FY29. It said it maintained a 'buy' call with an unchanged target price of RM1.38 'We continue to like Samaiden as one of the key beneficiaries of an upcycle in RE plant-up, underpinned by a solid order book, strong net cash position and secured pipeline of RE assets to boost recurring income,' it said. TA Research said some of the catalysts include Samaiden's Large Scale Solar 5 (LSS5) and LSS5+ engineering, procurement, construction and commissioning contract awards as well as its Corporate Renewable Energy Supply Scheme. The research house noted the generation asset wins under LSS5+ and CRESS are also catalysts. Meanwhile, TA Research said risks include a sharp rise in raw material costs such as solar modules and delays in project implementation.
New Straits Times
6 days ago
- New Straits Times
Samaiden bags three bioenergy projects via Seda 2025 e-bidding
KUALA LUMPUR: Samaiden Group Bhd has secured three bioenergy project awards under the Sustainable Energy Development Authority (Seda) Malaysia's 2025 e-bidding mechanism. These projects, located in Johor, Terengganu, and Kelantan, will add over 18 megawatts of biomass and biogas capacity to Samaiden's portfolio, further strengthening its position in Malaysia's renewable energy (RE) sector. The approved projects include two biomass power plants located in Tangkak, Johor and Kemaman, Terengganu respectively, and a biogas power plant in Bachok, Kelantan. Each project was awarded a 21-year Feed-in Tariff (FiT) approval and are expected to begin commissioning from second half of 2028. Samaiden group managing director Datuk Ir Chow Pui Hee said these awards mark a significant step forward in expanding the group's RE portfolio beyond solar into biomass and biogas. "The diversification strengthens our long-term earnings visibility, supports Malaysia's decarbonisation agenda, and positions Samaiden as a comprehensive clean energy solutions provider," she said in a statement today. Chow said the group is proud that its bids were successful in three different states, showcasing the depth of our technical capabilities and execution track record." The biomass and biogas projects will expand Samaiden's involvement in Malaysia's RE sector, supporting the government's target of 70 per cent RE generation capacity by 2050.
The Star
21-07-2025
- The Star
Govt policy boosts Samaiden's transition to RE asset owner
PETALING JAYA: Samaiden Group Bhd 's renewable-energy (RE) ambitions have received a timely boost following its latest success under Malaysia's Feed-in Tariff (FiT) 2.0 programme, with RHB Research reiterating its 'buy' call on the stock, keeping to a target price of RM1.44. The award of three new bioenergy assets – two biomass and one biogas plants – signals continued momentum in Samaiden's transition from an engineering, procurement, construction and commissioning (EPCC) contractor to an RE asset owner. 'We reiterate our positive stance on Samaiden's outlook following its latest win, which reinforces the group's strong position in the RE space,' said the research house. The new plants, awarded to Samaiden's subsidiaries Legasi Green Resources Sdn Bhd (88%-owned), Sumas Energy Sdn Bhd (51%) and SC Green Solutions Sdn Bhd (100%), collectively adds 18MW of installed capacity to the group's portfolio. They will be developed under a 21-year power purchase agreement (PPA), with the FiT 2.0 scheme offering a fixed tariff for the first 10 years, and a bidding-based mechanism thereafter. 'These assets further strengthen Samaiden's diversified RE portfolio – spanning solar, biogas, and biomass – and underscore its growing role in driving Malaysia's clean-energy transition,' said RHB Research in a note to clients yesterday. While earnings estimates remain unchanged for now, back-of-envelope calculations by RHB Research suggest the trio of plants could add around RM11mil to annual earnings, based on effective equity stakes. 'Management is guiding for a high single-digit to low double-digit internal rate of return (IRR),' said the research house, adding that capital expenditure for the plants is generally estimated at RM10mil to RM12mil per megawatt. The facilities are expected to be running by 2028. In addition to its asset-building plans, Samaiden also stands to benefit from EPCC contracts related to other shortlisted FiT 2.0 projects, with RHB Research noting potential upside to its valuation as contributions from these new bioenergy projects and Samaiden's large scale solar 5 (LSS5) asset are not yet included in the research house's base case. Seeing potential upside to its valuation of the stock, which had risen 24.8% in the last month, RHB Research is forecasting recurring net profit for Samaiden to rise 24.2% for its financial year ended June 2025 (FY25) and 41.6% in FY26.
