G Capital unites and TNB sign renewable energy purchase agreement

KUALA LUMPUR (August 19): Gunung Hydropower Sdn Bhd, a 96% -owned subsidiary of G Capital Bhd, has signed a Renewable Energy Purchase Agreement (REPPA) with Tenaga Nasional Bhd (TNB).

In a filing today with Bursa Malaysia, G Capital said on December 15, 2020 that Gunung Hydropower has obtained buyout approval from the Sustainable Energy Development Authority Malaysia for the 10 megawatts of Sungai Perak. , Salu near Lenggong District, Perak.

He said the REPPA will run for 21 years from the date of commercial operation on December 15, 2025.

“In accordance with REPPA, TNB will purchase electricity from Gunung Hydropower at a feed-in tariff (FiT) of RM 0.2898 per kilowatt hour,” the group said.

G Capital expects potential revenue of over RM400 million over a 21-year period from the date of commissioning and completion of the plant, based on the FiT rate of 0 , RM2898 per kilowatt hour and an estimated annual production of 68- gigawatt hours of electricity to be produced by the plant.

“With the exception of the above, the REPPA should not have a significant impact on the results and net assets of the group for the year ended December 31, 2021”, he added.

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