G Capital signs supplemental solar PPA with Federal Packages

PETALING JAYA: G Capital Bhd's 70%-owned subsidiary, Solarcity Malaysia Sdn Bhd, has signed a supplemental solar power purchase agreement (SPPA) with Federal Packages Sdn Bhd.

In a filing with Bursa Malaysia yesterday, G Capital noted in the SPPA, Solarcity and Federal Packages agreed to revise the capacity of the facility to 4,500 kwp from 5,500 kwp previously.

Under the deal, Solarcity will design, construct, install, own, operate, and maintain a solar photovoltaic energy generating system at the premises of Federal Packages in Penang. The new solar plant is expected to be operational by the second quarter of 2023.