KUALA LUMPUR (Oct 15): Renewable energy producer Cypark Resources Bhd (KL:CYPARK) has formed a consortium to jointly explore and develop energy solutions for the 186-hectare German Technology Park in Ayer Keroh, Melaka.

The company said in a statement on Tuesday that it has signed a memorandum of agreement with its largest shareholder, Jakel Capital Sdn Bhd, and Melaka Corporation to manage the planning, generation and distribution of energy for the park, a project that could cost an estimated RM4 billion.

Jakel Capital will hold a controlling 51% stake in the consortium, followed by Cypark with 29% and Melaka Corporation with 20%. Jakel Capital also holds 21.47% in Cypark.

Cypark said the partners plan to integrate renewable energy sources and modern energy management systems, including battery storage solutions, to ensure firm and cost-efficient power supply to the industrial park, in consultation with Tenaga Nasional Berhad (KL:TENAGA) and Suruhanjaya Tenaga via the Corporate Renewable Energy Supply Scheme.

At least 1,000MW of solar generated electricity is expected over the next five to seven years for the park, which will include a dedicated section for data centres, Cypark said.

“This partnership marks a significant milestone for us at Cypark, as we continue to lead the way in renewable energy solutions and sustainable development in Malaysia. With Melaka Corporation and Jakel Capital by our side, we are confident that the German Technology Park will set a new benchmark for innovation and sustainability in Malaysia,” said Cypark executive chair Datuk Ami Moris.

Cypark gained 2.5 sen or 3.97% to 65.5 sen at Tuesday’s market close, giving the group a market capitalisation of RM518.4 million.