Alpina unit bags S$117 million HDB project to build solar panels
Yong Hui Ting
ALPINA Energy, a wholly-owned subsidiary of Catalist-listed Alpina Holdings , announced on Monday (Apr 3) that it has clinched a contract worth S$117 million to design, install, construct, test and commission solar photovoltaic systems for a Housing and Development Board (HDB) project.
The contract from HDB was jointly awarded to two companies last year. One of them was Digo Corporation, which is a wholly-owned subsidiary of Alpina Holdings, as well as another company known as Terrenus Energy.
The two later set up a joint venture company, Novasix, in a 51:49 ownership and subcontracted the project to Alpina Energy.
The group expects the contract to be completed by end-2024. The contract is also not expected to have a material impact on the group’s earnings per share and net tangible assets per share for the financial year ending Dec 31, 2023.
It added that the S$117 million provisional contract sum is only indicative and may not be the actual revenue that will be recognised.
The final contract sum will depend on the actual energisation capacity at the final design stage, as well as during the implementation phase of the project, said Alpina Holdings in a filing with the Singapore Exchange.
Shares of Alpina Holdings ended unchanged at S$0.18 on Friday.
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