KUALA LUMPUR (Jan 7): Cypark Resources Bhd (KL:CYPARK) said on Tuesday that it has achieved the commercial operation date (COD) for one of its two 60MW floating solar plants at Danau Tok Uban (DTU), Kelantan.

In a statement, Cypark said that the water body, dubbed DTU2, with a generation capacity of 30MW, has been confirmed by the single buyer, which is Tenaga Nasional Bhd (KL:TENAGA), as ready for commercial operations.

Cypark added that the COD for DTU1 will follow shortly.

Notably, this floating solar project was initially set for completion by the end of 2021 but faced several delays due to the Covid-19 pandemic and floods.

With this COD milestone, the group is now positioned to benefit from the full cash flow of its portfolio, having delivered and operationalised nearly 400MW of solar generation capacity nationwide, Datuk Ami Moris, executive chair of Cypark, said.

She noted that the COD not only highlights the group's technical and operational expertise but also signals its readiness to lead further projects in the country’s renewable energy sector.

“Cypark is now ready to roll. Our focus remains on leveraging our proven capabilities to accelerate Malaysia’s energy transition goals. We are committed to driving innovation and sustainability as we continue to grow while maintaining the highest standards of governance and operational excellence,” she said.

At midday on Tuesday, Cypark’s shares were trading 0.5 sen or 0.58% lower at 86.5 sen, giving the company a market capitalisation of RM711.75 million.