G Capital Berhad (GCAP) announces that its subsidiary, Solarcity Malaysia Sdn Bhd, has successfully installed and commenced the operation of a 4,500.00KWp solar photovoltaic electric power generation system for a Power Purchase Agreement (PPA) with Federal Packages Sdn. Bhd. (FP).
Under the PPA signed on 27 July 2022, and the Supplemental PPA dated 7 March 2023, Solarcity completed the installation of the Solar PV System at FP’s premises. Both Solarcity and FP have accepted 15 May 2023 as the commercial operation date for the plant.
FP, a private limited company, is primarily engaged in the manufacturing and sale of paper cartons and paper-related products. It is a wholly-owned subsidiary of Muda Holdings Berhad.
The completion and commissioning of the plant will have positive financial effects on the G Capital Berhad group. Over the next twenty-five years, starting from the commercial operation date of 15 May 2023, the Plant is expected to contribute revenue and earnings in accordance with the agreed terms of the PPA.
G Capital Berhad continues to demonstrate its commitment to renewable energy solutions, and the successful installation of the Solar PV System for Federal Packages further strengthens the company’s position in the sustainable energy sector.
