KUALA LUMPUR: G Capital Bhd's subsidiary, Solarcity Malaysia Sdn Bhd (SMSB), has entered into a solar power purchase agreement (PPA) with Federal Packages Sdn Bhd (FP) for a solar photovoltaic (PV) project in Penang.
Under the PPA, SMSB will design, construct, install, own, operate and maintain a PV energy generating system with a capacity of 5,500 kilowatt-peak (kWp) at the premises of FP.
G Capital executive director Datuk Yap Yee Ping said the company welcomed this additional 5.5MWp award after it commissioned the 7.2MWp solar PV system to subsidiaries of Muda Holdings Bhd in the first quarter (Q1) 2022.
"Since early 2022, the company has successfully powered up four solar PV systems, aggregating 14.2MWp of solar PV projects.
"To date, the company currently has 15.3 MW of solar-powered plants running via long-term PPA with clients.
"We believe our commitment and successful track record are strong enough calls to action for others to join us in the renewable energy (RE) journey and embrace green energy," said Yap.
The PV project is expected to achieve a commercial operation date by Q1 2023 and will contribute positively to the future earnings of GCAP after that.