Founder Group's stock price soars 20% after securing a $4 million solar energy contract

LootboxPhobia · 2026-03-09T23:00:31+00:00

Founder Group's stock price rose by 20% after securing a contract for a Malaysia solar energy project valued at approximately $4.14 million. The project will generate about 53,000 MWh of clean energy, supporting corporate sustainability and strengthening the company's position in the solar energy sector.

LootboxPhobia

2026-03-09 23:00:31

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Investing.com – Founder Group (NASDAQ: FGL) stock price rose 20% on Monday after the company announced it had secured a project, procurement, construction, and commissioning contract worth approximately 16 million Malaysian Ringgit ($4.14 million) for a 25.40 MW solar energy project in Malaysia.

The contract is part of Malaysia’s Green Power Plan, a government-supported initiative aimed at accelerating corporate decarbonization through virtual power purchase agreements and the deployment of utility-scale solar capacity.

Under the agreement, Founder Group will be responsible for supplying the solar photovoltaic facilities, civil and structural engineering, testing, commissioning, and grid connection infrastructure. The project is expected to generate about 53,000 MWh of clean energy annually, offsetting approximately 35,000 tons of carbon dioxide emissions.

The project is also expected to contribute around 53,000 renewable energy certificates to the market, supporting corporate consumers in fulfilling their sustainability commitments.

Founder Group CEO Lee Seng Chi said, “Securing this contract solidifies Founder Group’s growing role in Malaysia’s energy transition and demonstrates our strong track record in executing corporate green power plans. As Malaysia accelerates utility-scale solar deployment, Founder Group is well-positioned to secure larger shares in upcoming tenders and expand our business in high-value engineering procurement, construction, and commissioning projects.”

The company stated that this contract reinforces its position in Malaysia’s utility-scale solar sector and enhances visibility into recurring, multi-year revenue opportunities. Founder Group will continue to pursue more LSS5 and LSS5+ projects, corporate renewable energy procurement programs, and regional solar tenders.

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