PETALING JAYA: The renewable energy (RE) sector is expected to ride on strong structural themes and positive earnings growth cycle.
Hong Leong Investment Bank Bhd (HLIB), which maintained its “overweight” call, said key catalysts include contract rollouts, fresh RE quotas and export news flow. The research house has “buy” recommendations on Solarvest Holdings Bhd with a target price of RM1.55 and Samaiden Group Bhd with a target price of RM1.43.
“Going into 2024, we look forward to Corporate Green Power Programme (CGPP) job flows to lift order books and drive earnings growth. We estimate there could be RM2.7bil to RM3bil worth of contracts.
“The 800MW CGPP was fully allocated to 32 winning submissions in November.
“Big winners of solar producer quotas (not adjusted for stake) are Tenaga Nasional Bhd
(TNB 90MW), Solarvest Holdings Bhd…
