Founder Group Limited (FGL) has signed a heads of agreement with Planet QEOS Sdn Bhd to jointly develop a renewable energy project in Sarawak, Malaysia. The project has an estimated value of up to $276 million. It will include a 310 MWp ground-mounted solar photovoltaic project along with a 620 MWh battery energy storage system project.
The initiative is part of the Baram DeepTech Energy programme and involves large-scale clean energy and digital infrastructure development. Further, a FGL-led consortium will undertake the development of a 200 MW Tier-4 green data centre park on 350 acres in Baram. The planned facility is expected to deliver reliable and dispatchable electricity comparable to conventional gas and hydropower sources.
The consortium will contribute technical expertise to support implementation and ensure the financial viability of the project. All parties involved will work towards securing necessary approvals, achieving financial close, and signing definitive agreements, including the power purchase agreement. Furthermore, the project aims to support Sarawak’s vision as the “Battery of Asean” and contribute to its goal of 10 GW generation capacity by 2030.