Cypark Resources Bhd aims to double its renewable energy (RE) production to 60 megawatts (MW) by 2015, said Group Chief Executive Officer, Datuk Daud Ahmad.
He said currently, the company has five RE parks nationwide, generating up to 30MW todate.
“With 13 more landfills to be developed in the future, the target of 60MW was achievable,” he told a media briefing after the company’s annual general meeting here Tuesday.
Daud said the company, which currently faced quota limitation, aimed to secure 20MW from the Sustainable Energy Development Authority Malaysia (SEDA),” he said.
He said Cypark’s business transformation programme aimed to have about two-thirds of its revenue and profit margin from environmental and RE business by next year.
“The prospects of RE are bright due to its cheaper costs and now RE gets more public acceptance in Malaysia,” he said.
To date, SEDA has collected up to RM625 million of RE fund compared to last year’s RM300 million on the increase in electricity surcharge for RE fund from one per cent to 1.6 per cent.
