KUALA LUMPUR: Cypark Resources Bhd, Melaka Corporation (MCorp) and Jakel Capital have agreed to jointly explore and develop energy solutions for the German Technology Park in Melaka.
In a filing with Bursa Malaysia, Cypark Resources said a consortium among the three organisations would manage the planning, generation, and distribution of energy for the technology park.
The consortium will be structured with Jakel Capital holding a 51 per cent stake, Cypark Resources 29 per cent and Mcorp 20 per cent.
It will leverage Cypark Resources' expertise in renewable energy.
The project, currently estimated at RM4 billion, will involve integrating renewable energy sources and advanced energy management systems, including battery storage solutions, to provide a reliable and cost-effective power supply for the industrial park.
Cypark Resources said this will be done in consultation with Tenaga Nasional Bhd and Suruhanjaya Tenaga through the corporate renewable energy supply scheme (CRESS).
"At least 1,000 megawatt (MW) of solar generated electricity is expected over the next five to seven years for the park and will include a dedicated section for data centres.
"The industrial park, designed to attract leading German technology and manufacturing companies, aims to be a hub of innovation and sustainable development in Southeast Asia," it said.
Cypark Resources executive chair Datuk Ami Moris said the partnership marks a significant milestone for the company as it continues to lead the way in renewable energy solutions and sustainable development in Malaysia.
"With MCorp and Jakel Capital by our side, we are confident that the German Technology Park will set a new benchmark for innovation and sustainability in Malaysia," he adds.
Cypark Resources shares closed 3.97 per cent higher, adding 2.5 sen to 65.5 sen, compared to its last closing price of 63 sen, giving it a market capitalisation of RM539 million.