Cypark Resources aims to raise capacity to 200MW

June 28, 2,016 Tuesday

By Olivia Miwil
olivia@nst.com.my

KOTA BELUD: Renewable energy provider Cypark Resources Berhad is targeting to increase its production capacity to 200 Megawatts (MW), with more than RM1 billion investment earmarked in three years.

Its group chief executive officer Datuk Daud Ahmad said the company was currently generating 30MW and was optimistic to operate at a larger scale within the timeframe.

“Once the three-year target has been achieved, Cypark will likely to penetrate into other markets such as Indonesia and Thailand, which the company also plans to export its expertise.

“For now, the focus will be on the market in Malaysia and to large-scale projects,” he said at the handover of Cypark Solar System Community project here on Sunday.

Last year, the company sold 130,000 MW of solar energy.

To date, the same energy valued at RM60 million has been purchased by utility company Tenaga Nasional Bhd.

Daud described the amount as huge in Malaysia, considering that solar energy was still at an infancy stage of development and far behind developed countries.

However, as the country is committed to reducing its carbon footprint by 40 per cent, renewable energy will soon be adopted significantly.

“The government is keen to develop green energy but there is need to modify current infrastructure.

“Meanwhile, the readily available energy should be used in areas prone to disasters such as earthquakes and floods, as well as remote areas."

Earlier, Daud said Cypark was engaged in eight solar system community projects in peninsular Malaysia.

“Another four projects here will be installed at Masjid Pekan, SRJK © Chung Hwa, a Chinese Temple and a church in Kota Belud by next month.

“These solar systems are expected to reduce half of the electricity bills beside carbon emission,” he said, the installation and 21 years of maintenance cost are about RM400,000.