KUALA LUMPUR: G Capital Bhd's 70 per cent-owned subsidiary Solarcity Malaysia Sdn Bhd has today signed a 25-year solar power purchase agreement (PPA) with Evergreen Fibreboard Bhd.
G Capital, in a statement today, said Solarcity would design, construct, install, own, operate and maintain a solar photovoltaic energy generating system with a total capacity of 7.0 megawatt (MW) under the Net Energy Metering (NEM) scheme at Evergreen premises in Batu Pahat, Johor.
G Capital executive director Tan Sri Dr Ali Hamsa said the installation of the solar power generating facilities was expected to reduce Evergreen's energy expenditure, at the same time reduce their carbon footprint, which was in line with the nation's renewable energy (RE) agenda.
"With the government's goals to increase the use of RE to 20 per centby 2025, we are optimistic that the RE sector has a promising prospect in the long run.
"We are thrilled to see growing green conscious in Malaysia and that another corporate client embarking in this journey with us," he said.
With the 7.0MW PPA, Solarcity has bagged a total of 16.6MW PPA.