G CAPITAL Bhd (GCAP), a Fundamental Market-listed renewable vitality options supplier, has efficiently secured 4 renewable vitality energy buy settlement (REPPA) with Malaysia’s largest electrical energy utility Tenaga Nasional Bhd (TNB) by way of its wholly-owned subsidiary Northern Star Hydropower Sdn Bhd.
The mixed capability of the 4 high-head small hydropower vegetation in Pahang quantities to a powerful 26MW (megawatts), of which 12.5MW is generated in Hulu Dong whereas the remaining 13.5MW is derived from Batu Talam.
NS Hydropower has been made the feed-in approval holder (FiAH) by the Sustainable Vitality Improvement Authority Malaysia (SEDA) for the vegetation.
Every of the REPPA spans a interval of 21 years from the industrial operation date with operations scheduled to start on Dec 6, 2027. Below the REPPA, TNB will buy electrical energy from NS Hydropower at a feed-in-tariff (FiT) price of twenty-two.98 sen/ kWh (kilowatt-hour).
“We’re thrilled to solidify our dedication to innovation and funding in renewable vitality with this landmark deal. Our high-head hydropower vegetation in Pahang showcase the immense potential of unpolluted vitality in Malaysia,” commented GCAP’S govt director Datuk Yap Yee Ping who expressed her enthusiasm about this ground-breaking achievement.
“Envisaging a income potential of RM688 mil over a 21-year interval on the again of estimated annual electrical energy manufacturing of 142.72 gigawatt-hours from estimated funding in mission prices of RM300 mil, we’re excited to make a significant contribution in direction of Malaysia’s sustainability targets.”
Transferring ahead, Yap believes the Malaysian authorities will double down within the inexperienced and sustainable sector as seen in Finances 2023 with Financial institution Negara Malaysia (BNM) injecting RM2 bil into sustainable know-how start-ups and SMEs, allocating RM3 bil within the Inexperienced Know-how Financing Scheme (GTFS) till 2025 in addition to Financial institution Pembangunan Malaysia Bhd rolling out a RM1 bil Sustainable Improvement Financing Scheme.
She additional up to date that GCAP is at present procuring related approvals from Bursa Malaysia and Securities Fee Malaysia (SC) in respect of a renounceable rights situation of Redeemable Convertible Unsecured Mortgage Shares (RCULS) introduced on April 5 that includes the issuance of as much as RM112.88 mil of 1.41 billion five-year, 8% RCULS at a nominal worth of 8 sen every.
The proceeds raised can be utilised to part-financing developments of small hydropower tasks in possession, notably Sg. Geroh (2MW), Sg. Salu-A (10MW) and Sg. Temelong-Sg. Ibul (each 8MW). All these three small hydropower tasks have already signed a 21-year REPPA with TNB earlier.
On the shut of at present’s buying and selling, GCAP was up 1 sen or 2.25% to 45.5 sen with 1.1 million shares traded, thus valuing the corporate at RM147 mil. – July 3, 2023