KUALA LUMPUR: G Capital Bhd
’s unit, Solarcity Malaysia Sdn Bhd (Solarcity), has accomplished the set up and commenced operation of a 3-megawatt peak (MWp) solar photovoltaic electrical energy era system (solar PV system) for the ability buy settlement (PPA) with Muda Paper Converting Sdn Bhd.
Solarcity is a 70 per cent-owned subsidiary of G Capital.
It stated the solar PV system was put in on premises positioned at Simpang Ampat, Pulau Pinang pursuant to the PPA on Jan 29, 2021.
“Both Solarcity and Muda Paper Converting have accepted that March 26, 2022 to be the business operation date for the plant,” it stated in a submitting with Bursa Malaysia.
It stated the plant can be contributing income and earnings to the group over a span of 25 years from the business operation date, in accordance with the agreed phrases within the PPA.
It added that the PPA, nonetheless, just isn’t anticipated to have any materials influence on the earnings and web property of the corporate for the monetary 12 months ending Dec 31, 2022. – Bernama
