Cypark gets nod to build renewable energy parks

by **hlk** Thu 21 Jul 2011, 08:20

KUALA LUMPUR: Cypark Resources Bhd has obtained the greenlight from the Negri Sembilan government to develop three integrated renewable energy parks (RE parks), including one in Pajam.

"With the three sites, Cypark is poised to deliver its 50MW within its three-year renewable energy project delivery plan with potential concession revenue of above RM60 million annually," Cypark chairman and founder Tan Sri Razali Ismail said in a statement yesterday.

The Pajam Integrated renewable energy Park is one of entry point projects under government's Economic Transformation Programme.

Razali said the Negri Sembilan government had given written approval to Cypark to lease the closed landfill site in Pajam and develop the renewable energy park for 21 years.

The approval was given together with two other sites in the same state.

He said Cypark had yet to sign the renewable energy purchase agreement with Tenaga Nasional Bhd. Under the recently passed renewable energy Act, renewable energy developers like Cypark can benefit from a fixed feed-in tariff for 21 years.

Cypark plans to develop renewable energy with total generating capacity of 100MW by 2015.

If the project is implemented in full, the 100MW green energy is expected to generate additional revenue of up to RM130 million annually.

The green energy will include waste biomass, landfill gas and solar as feedstock to its proposed renewable energy plants.

Meanwhile, on the safe closure of 16 unsanitary landfills across the country, Razali said it was progressing well.

"The government has mandated Cypark with some additional variation order works," he said.

The company also expects to secure more projects and replenish its order book from several large proposals already submitted to the government.

These proposals include upgrading and closing landfills and building and operating new sanitary landfills using Cypark's biocell technology, which reduces landfill operating cost and increases its lifespan significantly. - Bernama