With the appointment, Setara Armada and its consortium partners will be the solar power producer (SPP) in the commission’s corporate green power programme (CGPP), primarily to develop 28.67 megawatts (MW) solar power plant.

In a filing with Bursa Malaysia today, LBS Bina stated that the consortium, which includes MWG Power Sdn Bhd and Ocean Solar Energy Sdn Bhd, was selected from a second batch of 46 applications.

The group said the total 800MW quota under CGPP is now fully subscribed.

Meanwhile, the selected SPPs are required to take the next step which is to submit an application to participate in the New Enhanced Dispatch Arrangement programme within three months of the EC notification.

LBS Bina said the project is in line with its environmental, social, and governance commitment, and its involvement in the CGPP underscores the group’s eco-friendly practices in its core business operations.

The project will strengthen LBS Bina’s position as a responsible corporate entity and also pave the way for the company to enter the renewable energy sector.

“The group is set to make a substantial contribution in reducing carbon emissions and to play a central role in advocating clean energy efforts within the region,” it said.

“Barring any unforeseen circumstances, the project is expected to contribute positively to the group’s future earnings,” it said.