G Capital Berhad (GCAP) completes the installation and starts the operation of 3 MWp solar photovoltaic for Muda Paper Converting Sdn Berhad (MPC), a subsidiary of Muda Holdings Bhd.
Solarcity Malaysia Sdn Bhd holds a 70 percent stake in its subsidiary, GCAP. The agreement is for 25 years. Recently, Solarcity completed a 3 MWp solar project for Muda Paper Mills Sdn Bhd in February 2022.
Muda Holdings Berhad is the pioneer in the paper milling and paper packaging industry in Malaysia. The Group has grown to become one of the nation’s largest integrated manufacturers of industrial-grade paper, corrugated packaging solutions, and paper-based stationery renowned for superior product quality, on-time delivery, and excellent customer services; as well as a passion for environmental conservation through the adoption of new technologies and ethical business practices.
GCAP, Executive Director, Tan Sri Dr. Ali Hamsa said that it has completed 8.3 MWp out of 30.7 MWp so far and will complete the remaining 22.4 MWp by Q1 of 2023.
He said, “GCAP’s push into the RE space supports the government’s commitment to becoming a carbon-neutral country by 2050 as the group’s innovative solutions drive collective efforts among corporates to shift towards RE.”
“GCAP is pivoting on the success stories on RE and continues scaling up its solar power business division. By leveraging on the PPA, we have been able to help with the transition into RE for business owners and corporates,” he added.
He said that finishing these solar projects will help in cash flow, recurring income, and sustainable income for the company. “This puts GCAP on a strong footing to chart its next growth phase in RE business,” he concluded.
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