KAB inks MoU with two firms to explore regional green energy projects
16 May 2023
One-stop engineering and energy solutions provider Kejuruteraan Asastera Bhd’s (KAB) wholly owned subsidiary, KAB Energy Holdings Sdn Bhd, has signed a memorandum of understanding (MoU) with China National Nuclear Corporation (CNNC Group) subsidiary PT CNEC Engineering Indonesia (PT CNEC) and Transcend Global Limited (TGL) to jointly explore potential sustainable energy solutions projects regionally.
PT CNEC has extensive expertise in constructing nuclear energy power plants, LNG terminals, fuel tank farms, mining operations and alternative power generation plants while TGL, an investment holding company associated with the Regional Green Fund, specialises in investment holding, energy product trading, leasing heavy equipment and machinery, merger and acquisition activities, and investment in high-growth industries.
Together, KAB Energy and PT CNEC will collaborate to identify and develop proposed projects while TGL will assist in conducting financial feasibility studies for shortlisted projects and facilitate the merger and acquisition of project special purpose vehicles.
KAB group managing director Datuk Lai Keng Onn said: “We are delighted to embark on this collaborative endeavour with PT CNEC and TGL. Under the MoU, all parties will leverage its combined expertise to provide businesses regionally with engineering solutions for sustainable, green, and clean energy.”
KAB will propose projects for a joint review with PT CNEC to assess their feasibility. Additionally, the group will contribute its technical expertise, advice and experience for the feasibility studies.
The proposed projects span across Asia including a 100MW solar system in Thailand, the development of a wind farm, desalination and water treatment plant in the Philippines, development of captive power plants in Malaysia, and initiatives such as irradiation plant, machinery and equipment leasing, mini-liquefied natural gas terminal, and trading of materials and equipment in Indonesia, Lai said in a statement.
Source: The Sun Daily