Cypark Resources said its indirect subsidiaries have been awarded feed-in approval certificates from the government to carry out biogas projects with a total capacity of 2.7 MW in Johor and Terengganu, Malaysia.
The feed-in approval certificates were awarded by the Sustainable Energy Development Authority (Seda) for a period of 21 years, Cypark said. Tenaga Nasional will purchase electricity from the project companies at pre-agreed feed-in tariff rates, it added.
The first biogas project comprises a 1.2 MW installed capacity biogas plant in Layang-Layang, Johor, which was awarded to Cypark's 51% indirectly owned Reviva BACRE (Ulu Remis).
The second is a 1.5 MW plant in Kemaman, Terengganu awarded to BACRE Reviva Biogas (Kemaman), which is 80%-owned by BACRE Reviva Biogas Holdings, an indirect 51% subsidiary of Cypark.
Cypark recently announced the postponement of the operational date for two renewable energy projects.
Its 100 MW floating solar plant in Pasir Mas, Kelantan is now scheduled to begin operations in May 2023, after three postponements from its initial deadline of December 2021.
Meanwhile, the operational date for its 20 MW solid waste modular advance recovery and treatment waste-to-energy plant in Ladang Tanah Merah, Negeri Sembilan has been deferred until November, from September previously. It is unclear if the project has achieved commercial start-up.
Cypark shares slipped one sen or 2.56% to close at 38 sen on Thursday, giving the group a market capitalisation of RM223.75 million.
Cypark Resources greenlit for biogas projects in Malaysia
