Cypark wins bid to build solar photovoltaic plant

  • Business
  • Tuesday, 05 Dec 2017

PETALING JAYA: Cypark Resources Bhd has won a bid conducted by the Energy Commission (EC) for the development of a 30MW large-scale solar photovoltaic plant at Empangan Terip, Negri Sembilan.

In a Bursa Malaysia filing yesterday, Cypark Resources said its wholly owned subsidiary Cypark Renewable Energy Sdn Bhd (CRE) had on Nov 28 received a letter of acceptance of offer from the EC subsequent to a competitive bidding process.

CRE’s participation in the project is via a consortium, in which it partners Revenue Vantage Sdn Bhd.

The consortium is required to fulfill the conditions as set out in the letter of acceptance of offer, prior to the EC issuing the formal letter of award for the project.

While the project is not expected to have any material impact on the earnings and net assets of Cypark Resources for the financial year ending Oct 31, 2018, the project is expected to contribute positively to the future earnings of the group.

“The project will further strengthen Cypark Resources’ position as one of Malaysia’s leading integrated renewable energy developers and green engineering solutions providers.

“With the expected completion of the solar photovoltaic plant, the group will significantly increase its renewable energy capacity,” it said.

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