KUALA LUMPUR: G Capital Bhd's share price hit a high of 54 sen in early trade today, after the company announced its RM688 million power deal with Tenaga Nasional Bhd (TNB) yesterday.
G Capital share price closed 3.5 sen or 7.69 per cent higher to 49 sen today, giving it a market capitalisation of RM156.12 million.
G Capital Bhd's subsidiary Northern Star Hydropower Sdn Bhd (NS Hydropower) signed four 21-year renewable energy power purchase agreement (REPPA) with TNB for a total of 26 megawatts (MW) high-head small hydropower plants in Pahang, with a potential revenue of RM688 million.
Under the REPPA, TNB will purchase electricity from NS Hydropower at a feed-in-tariff (FiT) rate of RM0.2298 per kilowatt-hour (kWh).
Operations are scheduled to commence on December 6, 2027.