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

Northern Solar Holdings Bhd saw a significant surge in its shares, rising nearly 25 percent to a record high of 95.5 sen in the early trading session. This increase followed a series of strong performances by renewable energy stocks on Bursa Malaysia, including Solarvest Holdings Bhd and Samaiden Group Bhd, which both reached all-time highs on Monday.

The company's share price opened at 78 sen, up 1.5 sen or 1.96 percent from Monday's close of 76.5 sen, before reaching a peak of 19 sen or 24.84 percent higher. Despite this impressive rise, the stock still trades 14.5 sen or 18.95 percent higher compared to its opening price at noon. As of today, Northern Solar is Bursa Malaysia's 27th most active counter, with over 10 million shares traded.

The company started the year at 64 sen, meaning the stock has gained 19.53 percent so far this year. The rise in Northern Solar's shares is attributed to the government's Corporate Renewable Energy Supply Scheme (Cress) Acceleration Package, which was announced earlier. Under this package, the System Access Charge for firm green electricity supply is set at 14 sen per kilowatt-hour, with projects needing to meet the rate required to achieve commercial operation by December 31, 2028.

This development has drawn attention from investors, potentially leading to stronger deal flow in the fourth quarter of 2026 and the first quarter of 2027. Additionally, Northern Solar is in the pipeline for a Main Market transfer, receiving approval from the Securities Commission to move its listing from the ACE Market to Bursa Malaysia's Main Market.

This move aims to strengthen the company's corporate profile and increase its visibility among a broader investor base, including institutional investors.