KUALA LUMPUR: CypARK RESOURCES BHD [] shares advanced on Thursday, July 21 after it received a written approval from the Negeri Sembilan state government for Cypark to lease Pajam closed landfill site and develop the Integrated RE Park for the period of 21 years.
At 11am, Cypark rose 13 sen to RM1.93 with 739,400 shares traded.
Cypark said on Wednesday, July 20 that the approval was given together with other 2 sites in Negeri Sembilan.
'With the 3 sites, Cypark is poised to deliver its 50 MW within its 3 years RE project delivery plan with potential concession revenue of above RM60 million annually.
'The recently approved RE Act allows the renewable energy developer like Cypark to benefit from the fixed Feed In Tariff (FIT) for 21 years concession covered under Renewable Energy Power Purchase Agreement to be signed with Tenaga Nasional,' it said.
Cypark plans to develop RE with total generating capacity of 100 MW by 2015. If the project is implemented in full, the 100 MW green energy is expected to generate additional revenue of up to RM130 mill annually.
The green energy will include waste biomass, landfill gas and solar as feedstock to its proposed RE plants.
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At 11am, Cypark rose 13 sen to RM1.93 with 739,400 shares traded.
Cypark said on Wednesday, July 20 that the approval was given together with other 2 sites in Negeri Sembilan.
'With the 3 sites, Cypark is poised to deliver its 50 MW within its 3 years RE project delivery plan with potential concession revenue of above RM60 million annually.
'The recently approved RE Act allows the renewable energy developer like Cypark to benefit from the fixed Feed In Tariff (FIT) for 21 years concession covered under Renewable Energy Power Purchase Agreement to be signed with Tenaga Nasional,' it said.
Cypark plans to develop RE with total generating capacity of 100 MW by 2015. If the project is implemented in full, the 100 MW green energy is expected to generate additional revenue of up to RM130 mill annually.
The green energy will include waste biomass, landfill gas and solar as feedstock to its proposed RE plants.
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