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OTHERS Cypark Resources Berhad - Letter of Acceptance in relation to the Engineering, Procurement, Construction and Commissioning of 595 MWac Floating Solar Photovoltaic Plant with Battery Energy Storage System at Kenyir Lake
CYPARK RESOURCES BERHAD
Type
Announcement
Subject
OTHERS
Description
Cypark Resources Berhad - Letter of Acceptance in relation to the Engineering, Procurement, Construction and Commissioning of 595 MWac Floating Solar Photovoltaic Plant with Battery Energy Storage System at Kenyir Lake
1. INTRODUCTION
Cypark Resources Berhad ("Cypark" or the "Company") is pleased to announce that TNB Power Generation Sdn. Bhd. ("TNB GENCO") has on 3 April 2026, issued a Letter of Acceptance to the consortium of Cypark Renewable Energy Sdn. Bhd. ("CRE") and Fabulous Sunview Sdn. Bhd. ("FSSB") awarding a contract for the works in respect of Engineering, Procurement, Construction and Commissioning of 595 MWac floating solar photovoltaic plant with Battery Energy Storage System at Kenyir Lake, Terengganu ("EPCC Contract"), subject to the terms and conditions therein.
CRE is a wholly owned subsidiary of Cypark.
TNB GENCO is a wholly owned subsidiary of Tenaga Nasional Berhad ("TNB").
2. SALIENT INFORMATION OF THE LETTER OF AWARD
The EPCC Contract will be undertaken by an unincorporated consortium comprising CRE and FSSB in which CRE holds a 60% interest and FSSB holds a 40% interest. Other key salient information pertaining to the EPCC Contract are as follows:
EPCC Contract Price
RM1.962 billion
Scope of Works
Engineering, procurement, construction, testing and commissioning of the floating solar photovoltaic power plant with an installed capacity of 595 MWac and BESS
Commencement Date
2 June 2026
Time for Completion
850 days from the Commencement Date
3. RISK FACTORS
Save for the operational and execution risks ordinarily associated with projects of this nature, the Company does not foresee any material risks arising from the EPCC Contract. The management of Cypark will continue to implement robust controls and standard operating procedures to manage and mitigate such risks, thereby safeguarding the Group's interests and ensuring project sustainability.
4. FINANCIAL EFFECTS
The EPCC Contract is expected to contribute positively to the revenue and earnings of the Company for the duration of the EPCC Contract.
5. DECLARATION OF INTEREST
None of the Directors and/or major shareholders of the Company and/or persons connected to them have any interest, whether direct and/or indirect, in the EPCC Contract.
Please find attached herewith a media statement dated 3 April 2026 titled, 'Cypark Secures Landmark RM1.962 Billion EPCC Award For HHFS with BESS at Kenyir Lake, Set to Deliver Southeast Asia's Largest Floating Solar Development'.
Cypark will make the necessary announcement to Bursa Malaysia Securities Berhad as and when there is material development in relation to the EPCC Contract.