KUALA LUMPUR: Cypark Resources Bhd's 100 megawatt (MW) large scale solar 3 (LSS3) hybrid solar energy plant in Terengganu has reached its commercial operation date (COD) on June 9.
In a statement today, Cypark said the milestone of the plant in Merchang marks a significant achievement in supporting Malaysia's ambition for a 70 per cent renewable energy mix by 2050.
The Merchang hybrid solar energy plant is an innovative project comprising 35MW of floating solar and 65MW of ground-mounted solar, making it one of the largest hybrid solar installations in the region.
"Supporting the landmark achievement, a comprehensive strategic transformation of the Cypark organisation commenced in March 2024 led by the board of directors which was fully reconstituted in January 2024.
"The review aimed to enhance long-term value creation for Cypark stakeholders by re-assessing and re-evaluating the operational frameworks of the company," it said.
Cypark Resources executive chair Datuk Ami Moris said the COD for the plant is a testament to the company's commitment to become a significant contributor to Malaysia's net zero ambitions.
"Our journey has not been without challenges, but the commitment of our shareholders especially Jakel Capital in ensuring effective project management together with the injection of much needed fresh capital post-Covid have been pivotal in getting us to the finishing line.
"With a power purchase agreement (PPA) signed in June 2020, during the height of the pandemic, and unprecedented year-end floodings at our project site over the last two years, we are now more experienced and better equipped to deal with future risks and challenges," she added.
Cypark Resources executive director Muhammad Ashraf, meanwhile, said the company's floating solat plant in Kelantan is expected to reach COD in the third quarter (Q3) of this year.
"Cypark looks forward to continuing our success in the delivery of Malaysia's largest floating solar plant in Danau Tok Uban is targeted for COD in Q3 2024 and being ready to participate in the Third-Party Access (TPA) programme, anticipated to be introduced in the later part of 2024," he said.