Award Of Feed-In Approval Certificates To Two Subsidiaries By Sustainable Energy Development Authority Malaysia (Seda)

Back Dec 08, 2022
Type Announcement
Subject OTHERS
Description

Cypark Resources Berhad ("CRB" or "the Company") Award of Feed-in Approval Certificates to Two Subsidiaries by Sustainable Energy Development Authority Malaysia (SEDA)

The Board of Directors of CRB wishes to announce that the following subsidiaries of the Company have been awarded the Feed-in Approval Certificates by SEDA, which were received by the subsidiaries on 7 December 2022, to carry out biogas projects with the following details:-

 

Project Companies

Shareholdings

Installed Capacity (MW)

Net Export Capacity (MW)

Project Location

Reviva BACRE (Ulu Remis) Sdn. Bhd.

51% owned by Reviva Sdn. Bhd., which is a 100% owned subsidiary of Cypark Green Tech Sdn. Bhd. (100% owned by CRB)

1.202MW

1.000MW

Layang-Layang, Johor

BACRE Reviva Biogas (Kemaman) Sdn. Bhd.

80% owned by BACRE Reviva Biogas Holdings Sdn. Bhd., which is a 51% owned subsidiary of Reviva Sdn. Bhd.

1.498MW

1.300MW

Kemaman, Terengganu

The Feed-in Approval Certificates will be effective for a period of twenty-one (21) years from the feed-in tariff commencement date. Pursuant to the Feed-in Approval Certificates, Tenaga Nasional Berhad will purchase electricity from the companies at the pre-agreed Feed-in Tariff rates.

The Board is of the opinion that the Projects are in the best interest of the Group.

The Projects are not expected to have any material impact on the earnings and net assets of the CRB Group for the financial year ending 31 October 2023. However, the Projects are expected to contribute positively to the future earnings of the CRB Group. None of the Directors or major shareholders of CRB and persons connected with them has any interests, direct or indirect, in the Projects.

This announcement is dated 8 December 2022.

Announcement Info

Company Name CYPARK RESOURCES BERHAD
Stock Name CYPARK
Date Announced 08 Dec 2022
Category General Announcement for PLC
Reference Number GA1-08122022-00072