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G Capital Berhad’s 70% owned subsidiary, Solarcity Malaysia Sdn Bhd signed a solar power purchase agreement with wholly-owned subsidiary Federal Packages Sdn Bhd of Muda Holdings Bhd to sell solar energy to Federal Packages starting at a 5.5 MWp solar asset located in Pulau Pinang.
Solarcity will construct, install, own, manage, and maintain the additional solar photovoltaic generator system. It will be located at Federal Packages’ premises. G Capital stated that the PPA will run for 25 years after commercial operation.
G Capital stated that the plant will be commercially operational by the first quarter 2023.
GCAP’s executive director Datuk Yap Yee Ping, said, “We are pleased with another vote of confidence from Muda, evidencing our long-term RE partnership. We welcome this additional 5.5MWp (megawatt peak) award after we commissioned the 7.2MWp solar PV system to subsidiaries of Muda Holdings in 1Q 2022.”
Separately, Solarcity Bhd and Chin Well Holdings Bhd unit Chin Herr Industries Sdn Bhd jointly agreed to reduce a planned solar rooftop asset from 3MWp to 2.47MWp.
It said that the parties had signed a supplementary solar PPA in order to complete the revision. The project was previously announced as expected to be complete by the fourth quarter 2022.