KAB inks MoU to drive sustainable energy solutions

KUALA LUMPUR: Kejuruteraan Asastera Bhd (KAB) said its wholly-owned subsidiary KAB Energy Holdings Sdn Bhd is exploring a collaboration with a China National Nuclear Corp unit PT CNEC Engineering Indonesia and Transcend Global Ltd (TGL) to develop potential sustainable energy solutions in the region.

In a statement, KAB said the proposed joint effort with PT CNEC would identify and develop various proposed projects while TGL will assist in conducting financial feasibility studies for shortlisted projects and facilitate the merger and acquisition (M&A) of the project special purpose vehicles (SPV).

KAB group managing director Datuk Lai Keng Onn said the proposed projects span across Asia including a 100MW solar system in Thailand, and the development of a windfarm, desalination and water treatment plant in the Philippines.

He said the projects also include the development of captive power plants in Malaysia, and initiatives such as irradiation plant, machinery and equipment leasing, mini-LNG terminal, and trading of materials and equipment in Indonesia.

“These extensive lists of proposed projects demonstrate our commitment in pursuing larger and more ambitious sustainable energy projects which shall further drive the growth of our SES segment.

"This move is in line with our overall business strategy in expanding our suite of solutions for the SES segment to meet our customers’ ever-growing needs," said Lai.