NuEnergy secures RM10.1 million contract for Labuan power plant connections
The project covers interconnection facilities and associated infrastructure for a 120-megawatt plant, with completion targeted for the third quarter of 2027.
NuEnergy Holdings Bhd has accepted a letter of award from KAB Energy Holdings worth RM10.1 million for work connecting a Labuan power plant to Sabah Electricity infrastructure, according to its bourse filing.
The award covers interconnection facilities and related infrastructure for the 120-megawatt plant owned by Rancha Power. NuEnergy said it is targeting completion in the third quarter of 2027.
The renewable energy group described the contract as an expansion into extra high voltage (EHV) and interconnection facility (IF) work. It expects the award to support earnings, revenue, profitability and its order book.
NuEnergy said successful delivery would demonstrate its technical and execution capabilities in complex EHV and IF projects. The company added that this would put it in a position to seek larger transmission and high-voltage infrastructure projects.
At Friday’s close, NuEnergy shares stood at RM1.30, up two sen or 1.56%, giving it a market value of RM253.53 million. Its year-to-date share price gain was 109.68%.
