Cypark Completes Sik Solar Plant In Kedah And Goes Live Ahead Of Schedule

Cypark Resources Berhad who was the turnkey contractor and project financier for the Sik Solar Plant in Kedah has successfully completed and commissioned a 30 MWac (49MWdc) solar plant for its client, Viva Solar.

The plant achieved full Commercial Operation Date status on 1 January 2022 through a notification letter by Suruhanjaya Tenaga dated 4 January 2022.

According to CRB, the project was completed ahead of the approved COD date by the client, this will generate positively as the client will be able to recoup investments earlier than the earlier projected timeframe. The new solar plant will be operated and maintained by Cypark Renewable Energy throughout its 21 years concession period.

The solar turnkey and O&M services with long term financing through Sukuk is the first of its kind in the country and is designed to provide total and complete project implementation services covering a one stop, integrated technical and financial solution to solar large scale project owners.

The Sik solar plant has commercially started its operation and generating renewable energy revenue since 1 January 2022 for a full concession period of 21 years. CRB expects this to contribute positively to the future earnings and net assets per share.

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