GCB executive director Tan Sri Dr Ali Hamsa said as an existing Feed-in Approval Holder (FiAH), GCB has now up to December 2025 to complete the construction of the hydropower project, and the FiT effective period of 21 years shall start from the commencement of operations date
In a Bursa Malaysia filing today, G Capital said Gunung Hydropower received SEDA's feed-in approval certificate on Monday, which will increase its FiT rate from 25 sen per kWh to 28.98 sen per kWh.
In addition, the contract is effective from the scheduled FiT date of Dec 14 up to December 2025, while the yearly energy yield has been increased to 68 million kWh from 67.77 kWh.
This will boost annual revenue of the hydropower project by 15.9% over the 21-year tenure, but the FiT approval is not expected to have any material impact on earnings and earnings per share (EPS) of G Capital for the financial year ending Dec 31, 2020 (FY20), said G Capital
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