Kinergy buys 45% stake in Jati Cekerawala

KAB executive deputy chairman and group managing director Datuk Lai Keng Onn.

PETALING JAYA: Kinergy Advancement Bhd (KAB) has acquired a 47.5% stake in independent power producer Jati Cekerawala Sdn Bhd, a wholly-owned subsidiary of Pesaka Ventures Sdn Bhd, for RM35mil in cash.

KAB said, in a statement, it will assume the role as one of the project developers, alongside other stakeholders, in driving the repowering of a 650MW power plant.