Latest news with #CorporateRESupplyScheme
Barnama
2 hours ago
- Business
- Barnama
Gamuda Shares Up On SD Guthrie Collaboration, Contribution To Trickle In From 2028/29
REGION - CENTRAL > NEWS KUALA LUMPUR, Aug 20 (Bernama) -- Gamuda Bhd shares went up in today's early trading session after the group announced its collaboration with SD Guthrie Bhd to develop, own and operate solar power assets, including energy storage systems, with a combined target capacity of 1.2 gigawatts (GWs). As at 9.59 am, the counter rose nine sen to RM5.71 with 3.21 million shares changing hands. RHB Investment Bank said contributions could start trickling in from 2028 or 2029, with annual earnings ranging between RM200-RM250 million annually, depending on the tariff as it gradually develops its solar assets. bootstrap slideshow 'Gamuda will likely be the engineering, procurement, construction, and commissioning (EPCC) contractor for the solar assets, while also deriving recurring income as a developer together with SD Guthrie. 'We view execution risks to be manageable, backed by Gamuda's associate ERS Energy and its strong solar EPCC track record domestically and across the Philippines, Vietnam, Singapore and Australia,' it said in a note. In a joint statement yesterday, Gamuda and SD Guthrie said the partnership capitalises on rising renewable energy (RE) demand from high-quality offtakers. It will offer fast-tracked and scalable RE supply, critical to meet the sustainability goals of industrial players and data centres in Malaysia. Guthrie group managing director Datuk Mohamad Helmy Othman Basha said RE is one of two new business verticals that the company has identified as a key growth pillar for the group. With Guthrie's first 15-megawatt (MW) Corporate Green Power Programme solar plant in Bukit Selarong, Kedah, scheduled to begin operations in the fourth quarter of 2025, Mohamad Helmy said the latest partnership is an opportunity to create value by meeting RE demand from public and private sector users under frameworks such as the Corporate RE Supply Scheme. Gamuda Engineering Sdn Bhd executive director Faris Mohd Yusof said the company is focused on expanding its RE infrastructure portfolio — particularly in Malaysia and Australia — across multiple asset classes, including solar, wind, hydro (including pumped hydro), battery energy storage systems, and transmission projects, with over 3GW of renewables in various stages of deployment.
The Star
2 hours ago
- Business
- The Star
Gamuda shares up on SD Guthrie collaboration, contribution to trickle in from 2028/29
KUALA LUMPUR: Gamuda Bhd shares went up in today's early trading session after the group announced its collaboration with SD Guthrie Bhd to develop, own and operate solar power assets, including energy storage systems, with a combined target capacity of 1.2 gigawatts (GWs). As at 9.59 am, the counter rose nine sen to RM5.71 with 3.21 million shares changing hands. RHB Investment Bank said contributions could start trickling in from 2028 or 2029, with annual earnings ranging between RM200-RM250 million annually, depending on the tariff as it gradually develops its solar assets. "Gamuda will likely be the engineering, procurement, construction, and commissioning (EPCC) contractor for the solar assets, while also deriving recurring income as a developer together with SD Guthrie. "We view execution risks to be manageable, backed by Gamuda's associate ERS Energy and its strong solar EPCC track record domestically and across the Philippines, Vietnam, Singapore and Australia,' it said in a note. In a joint statement yesterday, Gamuda and SD Guthrie said the partnership capitalises on rising renewable energy (RE) demand from high-quality offtakers. It will offer fast-tracked and scalable RE supply, critical to meet the sustainability goals of industrial players and data centres in Malaysia. Guthrie group managing director Datuk Mohamad Helmy Othman Basha said RE is one of two new business verticals that the company has identified as a key growth pillar for the group. With Guthrie's first 15-megawatt (MW) Corporate Green Power Programme solar plant in Bukit Selarong, Kedah, scheduled to begin operations in the fourth quarter of 2025, Mohamad Helmy said the latest partnership is an opportunity to create value by meeting RE demand from public and private sector users under frameworks such as the Corporate RE Supply Scheme. Gamuda Engineering Sdn Bhd executive director Faris Mohd Yusof said the company is focused on expanding its RE infrastructure portfolio - particularly in Malaysia and Australia - across multiple asset classes, including solar, wind, hydro (including pumped hydro), battery energy storage systems, and transmission projects, with over 3GW of renewables in various stages of deployment. Meanwhile, SD Guthrie shares slipped five sen to RM5.08 as at 9.59 am, with a total of 606,500 shares transacted. - Bernama
BusinessToday
20 hours ago
- Business
- BusinessToday
SD Guthrie, Gamuda Join Forces For 1.2GW Solar Power Development
SD Guthrie Bhd has signed a collaboration agreement with Gamuda Energy Sdn Bhd to jointly develop, own and operate solar power assets, including energy storage systems, with a target capacity of 1.2-gigawatt (GW). The partnership combines Guthrie's extensive nationwide landbank with Gamuda's track record in renewable energy (RE), which includes a 3GW pipeline of projects across the Asia Pacific. Both parties aim to capture growing demand for clean energy from industrial and data centre players in Malaysia, offering fast-tracked, scalable RE supply. 'RE is one of two new business verticals we have identified as a pillar of SD Guthrie's future. It is both a sustainable revenue stream and a key part of our net-zero target,' SD Guthrie's Group Managing Director Datuk Mohamad Helmy Othman Basha said. He added that the collaboration will also support Malaysia's broader decarbonisation agenda. He shared that the partnership builds on Guthrie's first 15MW solar plant in Kedah, set to begin operations in late 2025, and will leverage frameworks such as the Corporate RE Supply Scheme to deliver value to both public and private sector offtakers. Meanwhile Gamuda Engineering Executive Director Faris Mohd Yusof said the joint venture uniquely positions both companies to deliver RE solutions at scale. 'Our expertise in utility-scale solar and diversified renewables, combined with SD Guthrie's landbank, gives us a strong platform to serve multinational partners,' he noted. In the first phase, both companies will identify unproductive and under-utilised land within SD Guthrie's portfolio for potential solar development. Further announcements on project rollouts are expected in due course.
The Star
21 hours ago
- Business
- The Star
SD Guthrie, Gamuda Energy partner to develop 1.2GW of solar power assets
From left: SD Guthrie Bhd chief financial officer Renaka Ramachandran, SD Guthrie group managing director Datuk Mohamad Helmy Othman Basha, Gamuda Bhd executive director Datuk Azmi Mat Nor and Gamuda Engineering executive director Faris Mohd Yusof. KUALA LUMPUR: SD Guthrie Bhd and Gamuda Energy Sdn Bhd (Gamuda) have entered into a collaboration agreement to develop, own and operate solar power assets, including energy storage systems, with a combined target capacity of 1.2 gigawatts (GW). In a joint statement today, the companies said the partnership aims to capitalise on the rising demand for renewable energy (RE) from high-quality offtakers, offering fast-tracked and scalable RE supply that will be critical to meet the sustainability goals of industrial players and data centres in Malaysia. Guthrie group managing director Datuk Mohamad Helmy Othman Basha said RE is one of two new business verticals that the company has identified as a key growth pillar for the group. At the national level, he added, it will also support Malaysia's efforts to decarbonise its electricity sector. "Our partnership with Gamuda reflects our ongoing strategy of partnering with established and experienced players to provide a strategic pathway for Guthrie to accelerate expansion into these new verticals,' he said. With Guthrie's first 15-megawatt (MW) Corporate Green Power Programme solar plant in Bukit Selarong, Kedah, scheduled to begin operations in the fourth quarter of 2025, Mohamad Helmy said the latest partnership represents an opportunity to create value by meeting RE demand from both public and private sector users under frameworks such as the Corporate RE Supply Scheme. Meanwhile, Gamuda Engineering Sdn Bhd executive director Faris Mohd Yusof said the company is focused on expanding its RE infrastructure portfolio-particularly in Malaysia and Australia-across multiple asset classes, including solar, wind, hydro (including pumped hydro), battery energy storage systems, and transmission projects, with over 3GW of renewables in various stages of deployment. "Our expertise in delivering utility-scale solar farms - ranging from over 100MW projects in Malaysia to significantly larger projects abroad - combined with our exclusive partnership with Guthrie, which holds the largest nationwide landbank for RE deployment, uniquely positions our joint-venture to provide RE solutions at scale for our multinational partners. "Our end-to-end delivery will be supplemented by our strategic stake in ERS Energy with its strong solar EPCC (engineering, procurement, construction and commissioning) track record across the Philippines, Vietnam, Singapore, Australia, and Malaysia.' In the first phase of the collaboration, both partners will identify Guthrie's unproductive or underutilised land nationwide to assess their potential for solar power development. Gamuda Energy is an indirect wholly owned subsidiary of Gamuda Bhd , through Gamuda Engineering. - Bernama
