Gamuda sails past RM12bil in new job wins

By the Editorial Team · Tuesday, September 29, 2026

Gamuda Bhd secured a A$790 million contract through its subsidiary to develop the 300-megawatt Mortlake Energy Hub solar and battery storage project in Victoria, Australia. This deal, part of over RM12 billion in new contracts won early in the financial year, strengthens Gamuda's leadership in renewable infrastructure and supports Victoria's clean energy transition with completion expected by January 2029.

Gamuda Bhd has surpassed RM12 billion in new contract wins within the first two months of its financial year ending July 2027, propelled by a recent A$790 million (approximately RM2.28 billion) solar energy contract awarded in Victoria, Australia. The contract was secured by Gamuda’s indirect wholly-owned subsidiary, Gamuda Engineering Pty Ltd, through an engineering, procurement, and construction (EPC) agreement with MEH SubCo Pty Ltd, the trustee for the MEH Project Trust.

The project, known as the Mortlake Energy Hub (Stage 1), involves the development of a 300-megawatt hybrid renewable energy facility. This includes a 435-megawatt-peak solar installation coupled with a 1,449-megawatt-hour battery energy storage system, which will link to the existing 500-kilovolt network via the Mortlake Terminal Station. The EPC contract is expected to reach completion by January 2029.

In addition to the EPC contract, discussions are underway for a potential operation and maintenance (O&M) agreement valued at A$45 million (around RM130 million), which both parties anticipate finalizing within the next month. Gamuda anticipates that both contracts will positively impact its revenue and earnings throughout their respective durations.

According to Gamuda, the Mortlake Energy Hub project will support Victoria’s transition to renewable energy by combining large-scale solar generation with advanced battery storage. The company highlighted that construction activities will bolster employment and stimulate local businesses and suppliers. Moreover, environmental safeguards and community management initiatives will be implemented throughout the project’s delivery phase. A community benefits fund is also planned to ensure lasting advantages for the local area during construction.

Gamuda emphasized that the project presents comparatively reduced risks relative to other large-scale renewable energy infrastructure ventures, particularly in terms of construction and commissioning challenges.

Prior to securing this latest contract, Gamuda had amassed RM10.2 billion in order wins for the current financial year, contributing to an overall order book standing at RM62.5 billion. The company has notably expanded its presence in Australia, which emerged as its largest revenue-generating market in the financial year 2025, surpassing its home market of Malaysia.

Following the announcement, Gamuda’s share price closed up 0.6 percent at RM4.91, lifting the group’s market capitalization to RM29.7 billion and maintaining its position as Malaysia’s largest listed construction company.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.