Cypark inks deals to jointly develop solar projects

PETALING JAYA: Cypark Resources Bhd has inked two memoranda of understanding (Mous) to jointly develop solar photovoltaic projects under the Net Energy Metering scheme in Negri Sembilan and Kedah.

According to Bursa Malaysia filings, Cypark will jointly develop 50 megawatt (MW) solar photovoltaic projects in Negri Sembilan with NS Corp, while the joint development of 100MW solar photovoltaic projects in Kedah will be in partnership with Menteri Besar Kedah Incorporated (MBI Kedah).

Theprojects will be developed in line with the adoption, execution and implementation of the Supply Agreement Renewable Energy.

Cypark and its partners are to jointly identify potential premises where the projects can be developed within the respective states, as well as identify the relevant authorities which have jurisdictions over the potential premises.

The MOU entered into with NS Corp will be effective for a period of two years, while the MOU signed with MBI Kedah will remain effective for 12 months, both of which may be extended as may be agreed in writing by both parties.

Meanwhile, Cypark has also entered into an MOU with Petronas Chemicals Group Bhd to evaluate and/or potentially collaborate in waste-to-energy (WTE) projects.

The MOU with Petchem will remain effective for five years.

“The areas of cooperation include exploring potential collaboration on WTE projects, including the establishment of WTE plants, as well as exploring joint solutions for plastic pollution,” Cypark said in a Bursa Malaysia filing.

Cypark executive chairman Tan Sri Razali Ismail said the MOU aimed to establish Cypark’s collaboration in WTE projects, particularly in setting up plants in Malaysia to process municipal waste for electricity generation.