KUALA LUMPUR: G Capital Bhd's (GCAP) 70 per cent owned subsidiary, Solarcity Malaysia Sdn Bhd, had on March 26, completed the installation and commenced the operation of a 3.0-megawatt peak (MWp) solar photovoltaic (PV) electric power generation system for Muda Paper Converting Sdn Bhd (MPC).

In a statement today, GCAP said this was under the 25-year power purchase agreement (PPA) inked on January 20, 2021.

The solar PV system energised is the third amongst many to come in 2022, completed a month after Solarcity's 3.0 MWp for Muda Paper Mills Sdn Bhd in February 2022.

MPC is a wholly-owned subsidiary of Muda Holdings Bhd.

Muda group of companies are principally involved in paper milling and manufacturing business with a wide range of products, including a mill, corrugated and packaging, paper bags, and paper-based stationery products.

GCAP executive director Tan Sri Dr Ali Hamsa said that of the 30.7 MWp solar PV projects that the company currently have, it has commissioned 8.3 MWp thus far and looking forward to commissioning the balance of 22.4 MWp by the first quarter (Q1) of 2023.

The company has already marked successful renewable energy (RE) footprints over entire Peninsular Malaysia with powered up a 1.1 MWp solar PV system in Selangor, 1.2 MWp Solar PV System in Johor, 3.0 MWp solar PV System in Penang, and another 3.0 MWp solar PV system in Penang.

"GCAP's push into the RE space supports the government's commitment to becoming a carbon-neutral country by 2050 as the group's innovative solutions drive collective efforts among corporates to shift towards RE.

"GCAP is pivoting on the success stories on RE and continue scaling up its solar power business division.

"By leveraging on the PPA, we have been able to help with the transition into RE for business owners and corporates," he said.

He added that completing these solar PV systems will contribute to positive cash flow, sustainable and recurring income for the company under the 25-year PPA.

"This puts GCAP on a strong footing to chart its next growth phase in RE business," he added.