PETALING JAYA: Solarvest Holdings Bhd aims to secure projects amounting to 200 megawatts in key markets in Southeast Asia by Financial Year 2025, supported by a robust 2.1-gigawatt project pipeline.
The solar solutions and installation services provider is tapping into markets such as Vietnam, Taiwan and Indonesia by leveraging a tailored approach to the region’s diverse regulatory landscapes.
Executive director and group CEO Davis Chong said the company’s approach is grounded in diversification, both geographically and in revenue sources, to navigate the sector’s geopolitical dependencies.
“With an eye on balancing policy dependencies and supply chain vulnerabilities, Solarvest adapts to each region’s energy transition pace, from Vietnam’s progressive solar policies to Indonesia’s coal-reliant economy ripe for energy diversification,” he said in an exclusive interview with SunBiz.
In Malaysia, Chong said Solarvest is at the forefront of the government’s National Energy Transition Roadmap (NETR), actively participating in programmes such as Net Energy Metering, Corporate Renewable Energy Supply Scheme (CRESS) and battery energy storage system (BESS) while supporting upcoming initiatives under the fifth large-scale solar (LSS5).
“Solarvest plans to evolve from a solar-focused entity to a comprehensive clean energy solutions provider, with expansion into energy efficiency, battery storage, electric vehicle (EV) charging, green hydrogen and data centres. The company’s engineering, procurement, construction and commissioning segment remains foundational, with a five-year goal to hold 30–40% market share and target RM1 billion in regional orders,“ he said.
Additionally, he said the company’s performance underscores the strategy’s success, with a 17% net profit growth in the first quarter of FY25 and a growing order book of RM582 million. “The company’s diversification initiatives continue to drive future growth, anticipating heightened demand across asset ownership and emerging tech areas like green mobility.”
In tandem with Malaysia’s upcoming carbon tax implementation, Chong said, Solarvest sees increasing opportunities for solutions that enable companies to meet heightened carbon reduction standards.
On policy consistency, he said this remains a challenge in Malaysia, impacting strategic planning for projects such as NEM and CRESS.
“We call for proactive policy continuity, a phased implementation approach to new regulations, and industry collaboration to improve adoption.
“Meanwhile, growing demand for sustainability solutions is reshaping the market, driving innovation beyond solar to meet corporate and regulatory carbon commitments. We are positioning ourselves to support Malaysia’s 70% renewable energy target by 2050, aligning with national goals to secure its role as a leader in Asean’s renewable energy landscape,“ he said.
Looking ahead, Chong noted that Solarvest is positioning itself to play a key role in Malaysia’s renewable energy leadership within the Asean region, especially as the country assumes the Asean chairmanship next year.
“With this regional leadership, the company aims to foster cross-border renewable energy trading, enhancing Malaysia’s role as an energy hub.
“By laying a strong local foundation through projects like NETR and CRESS, we can catalyse regional opportunities and support Malaysia’s energy ambitions,” he said, stressing on the company’s efforts are also expected to attract foreign direct investment and build additional pathways for Malaysian companies to engage in the broader Asean renewable energy market.
To meet evolving industry demands, Chong said, Solarvest is enhancing its portfolio to provide end-to-end clean energy solutions.
“The company’s five-year roadmap includes achieving 30% recurring income through strategic asset ownership, which aligns with the projected increase in renewable energy adoption.
“Major projects such as Solarvest’s LSS4, which has a 25-year power purchase agreement with Tenaga Nasional Bhd, are expected to generate substantial recurring revenue and reinforce Solarvest’s position in the market,” he said, as Solarvest aims to expand beyond traditional solar projects, reflecting the company’s vision for sustainable, integrated energy solutions.
Furthermore, Solarvest is also focused on talent development, recognising a need to bridge skills gaps in clean energy engineering.
“By investing in workforce training and development, Solarvest not only supports its own expansion but also helps to sustain the growth of Malaysia’s broader clean energy ecosystem, paving the way for future innovation and economic resilience in the green energy sector,” said Chong.
