Cypark-LG Negeri Sembilan Solar Plant

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Cypark Resources BHd, the Malaysian energy project developer signed a joint agreement with the Korean electronics firm LG to develop a pipeline of projects, the first being an 8 MW solar farm to be located in Negeri Sembilan state. The output was to be supplied to Tenaga Nasional Berhad (TNB), at a tariff of 95 sen (US$0.30) per MW. The project signed a 21 year Renewable Energy Power Purchase Agreement (REPPA) with TNB, under the FiT scheme. Precise details on the contractual arrangement between the two firms were not publicly available, however public sources indicated that in March 2011 Cypark Resources had signed a 75m ringgit ( USD 24 million) loan agreement with HSBC Amanah Malaysia to finance the project. The project became operational in March 2012, when phase 2 started construction: 5MW PV + 2MW biogas. http://www.rechargenews.com/energy/solar/article279855.ece http://www.theedgemalaysia.com/index.php?option=com_content&task=view&id=193389&Itemid=2 http://biz.thestar.com.my/news/story.asp?file=/2011/3/9/business/8216221 http://www.greenprospectsasia.com/content/cypark-integrated-energy-park-malaysia-starts-supplying-solar-power-grid-march-28th