KAB secures RM11.4mil solar photovoltaic systems projects in Thailand

KUALA LUMPUR: Kejuruteraan Asastera Bhd's (KAB) indirect subsidiary Energy Optimization (Thailand) Co Ltd has secured four new projects in Thailand with a combined installed capacity of 3,912KW peak solar photovoltaic systems under the build-own-operate-transfer model.

The group said in a statement that the contracts have a combined capex of about RM11.4mil and are expected to be completed within a year from the signing of the respective contract's power purchase agreement.

"It is no doubt that KAB is actively expanding its business into the green energy solutions. I am happy to say that our successful penetration into the Thailand market is a testament of our strategic executions as we continue to grow this business segment aggressively, said KAB managing director Datuk Lai Keng Onn.

He added that the group is finalising a few more projects in Malaysia and Thailand with a combined capacity of 10,206KW peak, and are confident of securing them within the next month.

"In light of the agenda of sustainability and renewable energy that has been the main topic of discussions among companies as part of their corporate social responsibility, we expect that there will be exponential growth in demand for our services from this business segment in the coming years," said Lai.

The group now has a total of 5,492KW peak installed capacity of solar photovoltaic systems that will generate sustainable recurring income for up to 25 years.
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