Signing Of Large Scale Solar Photovoltaic Power Purchase Agreement Between Sunpark (Pasir Panjang) Sdn. Bhd. With Tenaga Nasional Berhad

Back Dec 19, 2025

 

Type Announcement
Subject OTHERS
Description Cypark Resources Berhad - Signing of Large Scale Solar Photovoltaic Power Purchase Agreement Between SunPark (Pasir Panjang) Sdn. Bhd. with Tenaga Nasional Berhad
1. INTRODUCTION

We refer to the announcement made by the Company on 3 September 2025 pertaining to the selection of a consortium comprising Cypark Renewable Energy Sdn. Bhd. (“CRE”), a wholly-owned subsidiary of the Company and Fabulous Sunview Sdn. Bhd., as a shortlisted bidder for the development of LSS Plant of 99.99 MW in Port Dickson, Negeri Sembilan (“LSS PETRA 5+”) by the Energy Commission.

The Board of Directors of CRB is pleased to announce that SunPark (Pasir Panjang) Sdn. Bhd. (“SunPark”), in which CRE holds 49% shareholding and Sunview Asset Management Sdn. Bhd. holds the remaining 51% equity interest, had entered into the Power Purchase Agreement dated 17 December 2025 (“Agreement”) with Tenaga Nasional Berhad (“TNB”) for the purpose of development and operation of solar photovoltaic (“PV”) energy generating facility under the LSS PETRA 5+ programme (“the Project”).

2. INFORMATION ON SUNPARK

SunPark is a consortium set up to undertake the Project. SunPark is a private limited company incorporated in Malaysia on 22 September 2025 under the Companies Act 2016 (“Act”) with its registered address at Third Floor, No. 77, 79 & 81, Jalan SS21/60, Damansara Utama, 47400 Petaling Jaya, Selangor.

As at the date of this announcement, the issued share capital of SunPark is RM100.00 comprising 100 ordinary shares. SunPark is principally engaged in solar power generation, supply, and associated services.

The Directors of SunPark are Mr. Ong Hang Ping, Mr. Chow Kian Hung, Mr. Mohd Azren Bin Abdul Aziz and Mr. Mohamed Belqaizi Bin Mohamed Taufik.

The shareholder of SunPark and its shareholdings are as follows:
Name of Shareholder
 No. of ordinary shares held Shareholding (%)
Sunview Asset Management Sdn. Bhd. 51 51.00
Cypark Renewable Energy Sdn. Bhd. 49 49.00
Total 100 100.00

3. THE AGREEMENT

Pursuant to the Agreement, SunPark will design, construct, own, operate and maintain a solar PV energy generating facility (“Facility”) with its approved capacity at the relevant project site, as follows:
Capacity (MWac) Location Scheduled Commercial Operation Date
99.99 Port Dickson, Negeri Sembilan 29 February 2028
Throughout the term of the Agreement, TNB will purchase from SunPark, the net energy output generated by the Facility and delivered to TNB.

The Agreement governs the obligations of the parties to sell and purchase the energy generated by the Facility for a period of 21 years from the commercial operation date, in accordance with the agreed terms and conditions as stipulated in the Agreement.

4. FINANCIAL EFFECTS

The signing of the Agreement is not expected to have any impact on the net assets and earnings of CRB for the financial year ending 30 April 2026.

5. RISK FACTORS

The Company does not foresee any exceptional risk other than the normal operational risks associated with the Facility. Nevertheless, the Company will take the necessary steps to mitigate the risks as and when they occur.

6. DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

None of the Directors, major shareholders of the Company and/or persons connected to them, have any interest, whether direct or indirect, in the Agreement.

This announcement is dated 19 December 2025.

 

Announcement Info

Company Name CYPARK RESOURCES BERHAD
Stock Name CYPARK
Date Announced 19 Dec 2025
Category General Announcement for PLC
Reference Number GA1-19122025-00077