Founder Group announces execution of a Heads of Agreement with Planet QEOS

Founder Group (FGL) announced the execution of a Heads of Agreement with Planet QEOS for the joint development of a pioneering, large-scale renewable energy facility in Sarawak, Malaysia with estimated value of up to RM1.16 billion. This initiative forms a critical component of the wider Baram DeepTech Energy Program. This project represents Malaysia’s first “firm” solar power plant, designed to provide continuous, dispatchable renewable electricity comparable to conventional gas and hydropower sources. Lee Seng Chi, Chief Executive Officer of Founder Group Limited, stated, “This collaboration demonstrates FGL’s commitment to investing in large-scale infrastructure focused on sustainable returns and profound economic impact. By pairing 310 MWp of firm solar power with a massive 620 MWh battery energy storage system, we are not only addressing clean energy demand but are also facilitating the development of a major RM 1 billion-plus Green Data Centre Park, positioning Sarawak at the forefront of Asean’s green digital transition.”