Market Chatter: Solarvest Ramps Up Delivery of Large-Scale Solar Project as Middle East Crisis Boosts Demand
Solarvest (KLSE:SLVEST) plans to ramp up delivery of large-scale solar projects as higher fossil fuel costs, driven by the Iran-US conflict escalation, boost demand for renewable energy, bloomberg News reported Wednesday.The company's Chief Executive, Davis Chong, said the firm aims to shorten project timelines to as little as 12 to 16 months from the current 18 to 24 months. The company is expanding capacity, targeting about 1.3 gigawatts of solar installations in 2026 and at least 5 gigawatts more by 2028, including projects linked to Tenaga Nasional (KLSE:TNB), the report said.Solarvest has also launched two large solar initiatives under a corporate partnership program to supply major clients such as Micron Technology, NTT, and Texas Instruments, Bloomberg said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)