KUALA LUMPUR (Aug 11): Cypark Resources Bhd (KL:CYPARK) has secured feed-in tariff (FiT) approval to increase the capacity of its waste-to-energy (WTE) plant in Port Dickson, as it moves towards implementing the project's second phase.
The approval was awarded to its wholly owned subsidiary Cypark Smart Technology Sdn Bhd under the FiT system for the year 2026 administered by the Sustainable Energy Development Authority (Seda), Cypark said in a Bursa Malaysia filing on Tuesday.
The successful application is for a total installed capacity of 44.73 megawatts (MW) and net export capacity of 29.99MW, under the biomass category, for Cypark's Solid Waste Modular Advanced Recovery and Treatment Waste-to-Energy (SMART WTE) Plant at Ladang Tanah Merah, Port Dickson.
“The successful FiT application represents a key milestone towards the implementation of Phase 2 WTE Plant,” Cypark said.
The approval comes as Malaysia seeks to expand its renewable energy capacity through the FiT programme.
Earlier, Economy Minister Akmal Nasrullah Mohd Nasir said Malaysia had approved 42 renewable energy projects under the latest FiT bidding round, involving biomass, biogas and small hydropower. The projects are expected to attract total investments of RM4.3 billion and bring a combined generation capacity of 331MW.
The scheme plays a central role in Malaysia's goal to raise renewable energy's share of installed generation capacity to 70% by 2050.
According to Akmal, the projects are also expected to generate about RM617 million in local demand for gas engines and boilers, and create more than 7,700 indirect job opportunities nationwide.
Shares of Cypark closed half a sen, or 0.71%, higher at 71 sen on Tuesday, valuing the company at RM584.21 million.