Cypark unit plans sukuk to finance solar power plant projects

The company said in its Bursa Malaysia announcement that the proceeds from this Islamic debt issuance would be to part-finance the costs and expenses associated with the design, engineering, procurement, construction and commissioning, ownership, operation and maintenance of 3x30MWAC solar photovoltaic power plant projects.

PETALING JAYA: Cypark Resources Bhd’s unit, Cypark Ref Sdn Bhd, is proposing to set up an SRI Sukuk Murabahah Programme to finance its solar photovoltaic power plant projects.

The sukuk will have a tenure of up to 22 years commencing from the date of the first issuance, it said.