KUALA LUMPUR: G Capital Bhd's (GCap) 70 per cent-owned subsidiary Solarcity Malaysia Sdn Bhd (SMSB) has installed and begun operating a 4,500 KWp solar photovoltaic (PV) power generation system for Federal Packages Sdn Bhd (FPSB) in Simpang Ampat, Pulau Pinang, under a 25-year power purchase agreement (PPA).
With this solar PV system, SMSB has energised 12.53 MWp power purchase agreements inked with Muda Holdings Bhd (MHB), supporting Muda's efforts to reduce their carbon footprints and aligning with Malaysia's RE roadmap.
FPSB is a wholly-owned subsidiary of MHB, involved in the paper milling and manufacturing business with a wide range of products, including mill, corrugated, packaging, paper bags and paper-based stationery products.
GCap executive director Datuk Yap Yee Ping said MHB was the company's first client two years ago.
"MHB's embracing renewable energy is setting an example in reducing carbon footprint.
"We proudly witness the successful completion and operation of our 4,500 KWp solar PV system, marking a double-digit PPA power-up milestone with MHB and our fruitful relationship.
"MHB's alignment with our commitment and satisfaction towards our expertise has driven us to strive for excellence," she said in a statement.
With this project, GCap is now harnessing solar energy and earning sustainable revenue from a 23.01 MWp PPA, expected to generate RM7 million in yearly revenue under optimum performance and irradiance.
"Our journey in delivering renewable energy solutions will continue with GCap Group remaining committed to empowering businesses to transition towards a greener and more eco-conscious path, paving the way for a greener tomorrow for all," Yap added.