Founder Energy

What Founder Energy does

Founder Energy Sdn Bhd is a Malaysian solar photovoltaic (PV) solutions provider and operating subsidiary of NASDAQ-listed Founder Group Limited (FGL). Founded in 2021 and headquartered in Klang, Malaysia, the company develops and delivers large-scale and commercial & industrial (C&I) solar PV projects within Malaysia's Corporate Green Power Programme, a regulatory framework that facilitates corporate procurement of renewable energy.

The company's primary disclosed project is a 29.99 MW ground-mounted solar PV facility in Bukit Selambau, Kedah, with a total contract value of RM132.07 million and scheduled completion by March 2027. To fund this project, Founder Energy secured RM103.8 million in Islamic project financing from AmBank Islamic Bhd in January 2026, demonstrating bankability and access to non-recourse project finance. The business model is project-based: revenue is derived from one-time development and EPC contract values rather than recurring software, subscription, or operations revenue.

Founder Energy serves corporate entities seeking to meet renewable energy and sustainability targets through Malaysia's CGPP framework, alongside C&I customers requiring on-site or grid-connected solar generation. Distribution is conducted through direct enterprise engagement rather than channel partners. The parent company's NASDAQ listing carries a minimum publicly held shares deficiency notification with a compliance deadline of April 3, 2026, which represents a material governance overhang on the operating subsidiary's growth capital pathway.

Name

Founder Energy

Legal name

Founder Energy Sdn Bhd

Website

https://founderenergy.com.my

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Founder Energy Sdn Bhd is a Malaysian solar PV solutions provider and subsidiary of NASDAQ-listed Founder Group Limited, developing large-scale and commercial & industrial solar projects under Malaysia's Corporate Green Power Programme, anchored by a 29.99 MW project in Kedah.

Ownership category

akta.pro rank

Product category

Solar Energy Services

NAICS

Solar Electric Power Generation (221114), Electric Power Generation (22111)

SIC

Electric Services (4911)

akta.pro primary industry

Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG)

akta.pro secondary industries

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Renewable Energy Industrial Facilities Construction (Solar, Wind, Storage) (IMAFADAD)

Keywords

• Solar PV projects
• Utility-scale solar
• Commercial solar installation
• Renewable energy development
• Solar project financing

Headquarters

HQ city

Klang

HQ country

Malaysia

HQ region

Asia

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Infrastructure, Personnel, Operations

Revenue model

1. Solar Project Development: Development and delivery of large-scale solar PV projects, including ground-mounted solar facilities. Revenue derived from project contract values (RM132.07 million for the Kedah project). The company also accesses project financing from banking partners to fund development.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Founder Energy develops, finances, and delivers large-scale and commercial & industrial (C&I) solar photovoltaic (PV) projects in Malaysia, primarily under the country's Corporate Green Power Programme. Its flagship project is a 29.99 MW ground-mounted solar PV facility in Bukit Selambau, Kedah, with a total contract value of RM132.07 million and completion scheduled for March 2027.

Product overview

Founder Energy operates as a single-product solar PV solutions provider focused on large-scale and C&I solar projects in Malaysia. The company's primary offering is the development and financing of utility-scale solar photovoltaic facilities, with current operations centered on a 29.99 MW ground-mounted solar project in Bukit Selambau, Kedah.

Differentiator

Problem solved

Functional benefit

Products and services

• Large-Scale and C&I Solar PV Project Development End-to-end development, financing, and delivery of utility-scale and commercial & industrial solar photovoltaic projects in Malaysia under the Corporate Green Power Programme, with flagship 29.99 MW ground-mounted facility in Bukit Selambau, Kedah (RM132.07 million contract value).

Quantifiable outcome

• 29.99 MW capacity solar facility supporting Malaysia's clean energy transition

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Solarvest Holdings Berhad: Solarvest is a leading Malaysian solar PV solutions provider offering EPC, C&I rooftop, and utility-scale solar projects, directly comparable to Founder Energy's business model and customer segments within Malaysia's Corporate Green Power Programme.
• Cypark Resources Berhad: Cypark is a Malaysian renewable energy developer and operator with utility-scale solar, biogas, and waste-to-energy assets. It is comparable to Founder Energy as a Malaysian utility-scale solar developer, though with broader technology scope and operational track record.
• Sunview Group Berhad: Sunview Group is a Malaysian solar PV EPC contractor focused on C&I and utility-scale installations. Directly comparable to Founder Energy on geography, customer base, and core delivery model.
• Samaiden Group Berhad: Samaiden is a Malaysian solar PV system provider covering engineering, procurement, construction, and maintenance for C&I and utility-scale projects. Highly comparable on product offering, target customer, and Malaysian market positioning.
• Pekat Solar Sdn Bhd: Pekat Solar is a Malaysian solar EPC and engineering firm serving C&I customers with rooftop and ground-mounted installations. Comparable to Founder Energy as a domestic Malaysian solar EPC competitor.

Regional players

• Gadang Holdings Berhad: Gadang is a Malaysian construction group with a renewable energy division undertaking solar projects. Comparable as a Malaysian infrastructure player that has expanded into utility-scale solar development.

Broad incumbents

• First Solar, Inc. First Solar is a global solar PV module manufacturer and utility-scale project developer. Comparable as a broad incumbent in the utility-scale solar EPC and development space, though operating at much larger scale than Founder Energy.
• Scatec ASA: Scatec is a Norway-based renewable energy developer that builds, owns, and operates solar power plants globally. Comparable as a utility-scale solar project developer using project finance to scale asset portfolios.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Founder Energy