Wedoany.com Report-Jan 11，Malaysian solar firm Founder Group Ltd (NASDAQ:FGL) has received a Letter of Award (LOA) to participate in the construction of a 10-MWac/15-MWdc floating photovoltaic (PV) array in the state of Selangor, western Malaysia.

The value of the assignment amounts to MYR 20 million (USD 4.4m/EUR 4.3m), the engineering, procurement, construction, and commissioning (EPCC) solutions provider said on Tuesday. Under the job awarded by General Conditions Preliminaries & Consultation, the company will serve as a sub-contractor in the project and will take care of supplying labor, hand tools, materials and necessary machinery and equipment for the project.

The floating solar plant will cover roughly 24 acres of water surface in Kuala Langat and is expected to be commissioned by the end of June. The project involves mounting PV panels on floating structures, which enables power production while reducing land usage.

Klang-headquartered Founder Group, which focuses on large-scale and commercial and industrial (C&I) projects, went public in New York in October 2024, raising gross proceeds of USD 4.9 million.