G Capital inks 25-year solar PPA with food services provider

G Capital inks 25-year solar PPA with food services provider

06 Oct 2022

G Capital Bhd’s 70%-owned subsidiary Solarcity Malaysia Sdn Bhd has inked an agreement to sell solar energy to Aryzta Food Solutions Malaysia Sdn Bhd.

G Capital said the solar energy will be generated from a 1,100KWp solar photovoltaic (PV) system on Aryzta’s premises in Pulau Indah, Selangor.

“The PPA (power purchase agreement) will be for a period of 25 years,” the group said in a filing with Bursa Malaysia.

Aryzta — a subsidiary of Swiss-listed Aryzta AG — is principally involved in providing food services and processing, as well as trading frozen food.

“The PPA is not expected to have any material impact on the earnings and net assets of the group for the financial year ending Dec 31, 2022,” it said.

Shares in G Capital closed unchanged at 47.5 sen, giving the group a market capitalisation of RM150.71 million.

Source: The Edge Markets