Northern Solar turns up the heat, shares soar nearly 25pct

KUALA LUMPUR: The sun continued to shine brightly on solar energy solutions provider Northern Solar Holdings Bhd, with its shares soaring nearly 25 per cent to a record high of 95.5 sen in morning trade.

The surge came a day after renewable energy stocks were among the bright spots on Bursa Malaysia, with Solarvest Holdings Bhd and Samaiden Group Bhd hitting all-time highs on Monday.

At the opening bell today, Northern Solar rose 1.5 sen or 1.96 per cent to 78 sen from Monday's close of 76.5 sen, before climbing as much as 19 sen or 24.84 per cent to the new peak.

The ACE Market-listed stock eased to 91 sen at noon, but remained 14.5 sen or 18.95 per cent higher. It was Bursa Malaysia's 27th most active counter with more than 10 million shares traded.

Northern Solar began the year at 64 sen, meaning the counter has gained 19.53 per cent so far this year based on its latest closing price.

On Monday, the stock climbed to its highest level in more than 11 months as renewable energy counters drew attention following the government's Corporate Renewable Energy Supply Scheme (Cress) Acceleration Package.

Under the package, the System Access Charge has been set at 14 sen per kilowatt-hour for firm green electricity supply, with projects seeking the special rate required to achieve commercial operation by Dec 31, 2028.

Hong Leong Investment Bank Bhd said the package could accelerate negotiations between renewable energy developers and green consumers, potentially driving stronger Cress deal flow in the fourth quarter of 2026 and first quarter of 2027.

Northern Solar also has a Main Market transfer in the pipeline.

The company received Securities Commission approval earlier this month to transfer its listing from the ACE Market to Bursa Malaysia's Main Market, subject to compliance with the regulator's equity guidelines.

Northern Solar had said the transfer would strengthen its corporate profile and increase its visibility among a broader investor base, including institutional investors.

The solar photovoltaic engineering, procurement, construction and commissioning specialist was listed on the ACE Market in February 2025 at 63 sen a share. It closed its first trading day 25.4 per cent higher at 79 sen.