Malaysian solar system installer Solarvest Holdings Bhd will build photovoltaic (PV) arrays with a total capacity of 4 MWp for Teo Seng Capital Bhd (KLSE:TEOSENG).
The investment holding company, specialising in poultry farming, said last week that it would invest around MYR 13 million (USD 3.1m/EUR 2.8m) in the rooftop solar systems to be installed across its chicken farms and factories in the state of Johor.
Teo Seng will use the energy generated by the solar arrays for the daily operations of its facilities. This is expected to lower its electricity costs.
The move is in line with Teo Seng's environmental sustainability goals and supports the government's green energy ambitions, the company said.
Solarvest has just completed its initial public offering (IPO) and will start trading on the ACE Market of Bursa Malaysia tomorrow.