Malaysian Tycoon Lin Yun Ling’s Gamuda Building Over $1 Billion Of Solar Projects Amid Data Center Boom
Close up of Solar cell panel with sunset reflection.
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Gamuda—a construction company cofounded by Malaysian tycoon Lin Yun Ling—is expanding rapidly in the renewable energy space, winning two solar projects this month with a combined capacity of 2.7 gigawatts of electricity that would power data centers when completed.
Malaysia is among the data center hotspots in the Asia Pacific, attracting global tech giants such as Alibaba, Google and Microsoft to build their cloud computing and AI-powered hyperscale facilities and driving demand for renewable energy in the country. In recent years, Gamuda has won some 2.7 billion ringgit ($642 million) worth of contracts for two of Google’s projects in the country.
In partnership with Kuala Lumpur-based Gentari Renewables, a unit of Malaysian state-linked energy company Petronas, Gamuda said Monday it will develop a solar farm with 1.5 gigawatts of capacity in the country. The announcement comes days after Gamuda partnered with plantation company SD Guthrie to build a 1.2-gigawatt solar facility. While Gamuda didn’t provide financial details, analysts estimate both projects would entail about 5.4 billion ringgit ($1.3 billion) to build.
“With our combined strengths and bankability, we can support our data centre partner with a dedicated, sustainable and scalable pipeline of renewable energy to ensure these crucial facilities can operate at a reduced carbon footprint,” Joshua Kong Sing Hoe, director of Gamuda Energy said in a statement.
With the rapid expansion of data centers in the country, demand for renewable energy has been soaring. “Malaysia’s digital economy is growing rapidly, bringing with it rising demand for reliable and sustainable power,” Low Kian Min, chief renewables officer of Gentari said.
Cofounded in 1976 by Lin and his business partner Koon Yew Yin, Gamuda has grown from a construction company into a leading infrastructure and real estate company in Malaysia, with projects in Australia, Singapore, Taiwan, the U.K., and Vietnam.