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.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

Next In Business News

UK's Morrisons rejects takeover proposal from CD&R
Wall St week ahead - Fed shift causes rally in value stocks to wobble
Bank stocks lurch into ranks of June’s worst as rally unravels
Fernandes: Aviation industry likely to return to normal in 2022
KPower energises global energy, solar market
MEF: Well-coordinated enforcement activities on businesses crucial
Mustapa: 12MP includes National Recovery Plan
Maybank IB clinches top awards at FinanceAsia Country Awards, Alpha SEA
CPO futures to see profit-taking activities next week
Leon Fuat cautious on demand of steel products as Covid worries weigh

Stories You'll Enjoy