G Capital Berhad via Solarcity Malaysia Sdn. Bhd. a 70%-owned subsidiary of the Company had signed Solar Power Purchase Agreements with Federal Packages Sdn. Bhd. to design, construct, install, own, operate and maintain additional solar photovoltaic energy generating system with a total capacity of 5,500 KWp.
The location of solar panels will be at the premises of Federal Packages located Pulau Pinang The PPA will be for a period of Twenty-Five years from the commercial operation date in accordance with the agreed terms and conditions as stipulated in the PPA.
FP is a wholly-owned subsidiary of Muda Holdings Berhad of companies and is principally involved in paper milling and manufacturing business with a wide range of products, including mill, corrugated and packaging, paper bags, and paper-based stationery products.
The Plants is expected to achieve a commercial operation date by the first quarter of 2023, and thereafter is expected to contribute positively to the future earnings of the Group.
