Nuenergy Holdings Bhd has announced plans to invest RM48.76 million in the development of solar photovoltaic (PV) systems across 49 rooftop locations belonging to a government agency. The project will have a combined capacity of 21 megawatts peak (MWp) and is aimed at expanding the company's renewable energy portfolio.

According to a recent company filing, this initiative is expected to generate steady energy income over the duration of the offtake agreements, thereby diversifying Nuenergy’s revenue streams beyond its existing engineering and construction contracts. The company emphasized that the investment aligns with its strategic goal to increase ownership of renewable energy assets.

The construction, procurement, and commissioning phases of the project will be managed by a subsidiary of the government agency that owns the premises, acting as the main contractor. Nuenergy anticipates that the solar facilities will be operational by the second quarter of 2027.

This development highlights Nuenergy’s continued commitment to renewable energy projects and reflects broader industry trends towards sustainable power generation in the region. The scale and collaborative approach of the project suggest a growing partnership between private energy firms and government bodies to meet energy and environmental objectives.