GCAP powers up 309.28 KWp solar PV systems with Muda Paper Converting
23 Aug 2022
G Capital Bhd’s (GCAP) 70 per cent-owned subsidiary, Solarcity Malaysia Sdn Bhd (SMSB), has completed the installation and commenced operation of a 309.28 KWp solar photovoltaic (PV) electric power generation system for Muda Paper Converting Sdn Bhd (MPC).
This deal follows a supplemental power purchase agreement (PPA) inked between SMSB and MPC on 30 May 2022.
The solar PV system was installed on the premises located at 789, Jalan Tasek, Kampung Jawi Sempit, 14120 Simpang Ampat, Pulau Pinang.
GCAP executive director Datuk Yap Yee Ping said this small yet crucial delivery of promises will help Malaysia reach the target set out in the Renewable Energy Transition Roadmap 2035.
MPC is a wholly-owned subsidiary of Muda Holdings Bhd, a listed company on Bursa Malaysia.
MPC principally involves converting and selling paper stationaries and paper-based food packaging products.
According to the filing with Bursa Malaysia, the plant will contribute revenue and earnings to GCAP over twenty-five (25) years from 19 August 2022, the commercial operation date.
“With the completion of the 309.28 KWp solar PV systems in Simpang Ampat, this brings our total installed solar PV system capacity to 15.6 MWp inception-to-date,” Yap said.