KUALA LUMPUR (April 3): A consortium involving Cypark Resources Bhd (KL:CYPARK) and Sunview Group Bhd (KL:SUNVIEW) has secured a RM1.962 billion engineering, procurement, construction, testing and commissioning contract for a 595-megawatt alternating current (MWac) floating solar photovoltaic power plant with battery energy storage system on Tasik Kenyir, Terengganu.
On Thursday, The Edge reported that Cypark was tipped to win a RM2 billion contract for a solar farm at Tasik Kenyir.
The contract was awarded by TNB Power Generation Sdn Bhd, a wholly-owned subsidiary of Tenaga Nasional Bhd (KL:TENAGA), according to their bourse filings on Friday.
The contract will be undertaken by an unincorporated consortium comprising Cypark Renewable Energy Sdn Bhd (CRE) and Fabulous Sunview Sdn Bhd (FSSB).
CRE, a wholly-owned subsidiary of Cypark, holds 60% of the consortium, while FSSB holds the remaining 40% stake. FSSB is a wholly-owned subsidiary of Sunview.
The contract has a tenure of 850 days, starting on June 2, 2026.
In a statement, Cypark group managing director Datuk Ami Moris said the contract provides greater earnings visibility and strengthens the group outlook as it continues to convert opportunities into secured projects.
The group claimed that the Kenyir hydro floating solar photovoltaic plant project is set to be the largest floating solar photovoltaic development in Southeast Asia, upon completion in 2028.
At Friday’s noon market break, Cypark’s share price was 3.36% or 2.5 sen higher at 77 sen, giving the group a market capitalisation of RM634 million.
Sunview’s share price rose three sen or 8.33% to 39 sen, for a market capitalisation of RM229 million.
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Cypark tipped to bag RM2b contract for Tasik Kenyir floating solar farm — sources
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