Recent developments in Malaysia’s renewable energy sector highlight a significant shift towards sustainable energy solutions, driven by large-scale initiatives and collaboration among key players. Founder Group Limited, a prominent provider of engineering, procurement, construction, and commissioning (EPCC) solutions for solar photovoltaic systems, is proactively aligning itself with this burgeoning market. With an anticipated increase in EPCC contract value up to RM17.4 billion [USD4.1 billion], the sector is poised for expansion, bolstered by programs such as LSS Petra, LSS Petra 5+, and the Corporate Renewable Energy Supply Scheme (CRESS). These initiatives not only support the growth of renewable energy but also enhance Malaysia’s digital infrastructure by providing stable, cost-effective power solutions, essential for data centers and AI development in the region.

Elsewhere in the market, IREN was trading firmly up 12.9% and ending the day at $47.14, not far from its 52-week high. This week, IREN increased its AI Cloud capacity to 23k GPUs, targeting over $500 million in annualized run-rate revenue by Q1 2026. Meanwhile, Adani Power trailed, down 11% to end trading at ₹144.50.

Adani Power’s strategic capacity expansion targets 12 GW by 2030. Discover more about their growth strategy and potential opportunities in our in-depth narrative.

• Tesla settled at $442.79 up 4%. Two days ago, investor John Chevedden urged Tesla shareholders to support proposals for simpler voting requirements while opposing a key governance committee chair.

• Chevron ended the day at $159.18 up 1.1%.

• Applied Materials finished trading at $201.44 up 0.3%. On Wednesday, the company announced a strategic collaboration with GlobalFoundries to establish a waveguide fabrication facility in Singapore to accelerate photonics development for AI applications.

• Dive into all 181 of the Energy Transition Stocks we have identified, like Empresas Copec, Fifth Third Bancorp and Dubai Electricity and Water Authority (PJSC), right here.

• Want Some Alternatives? The end of cancer? These 29 emerging AI stocks are developing tech that will allow early idenification of life changing disesaes like cancer and Alzheimer’s.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.