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BUSINESS

KAB inks PPA with Mydin on solar PV project

12/04/2022 02:42 PM

KUALA LUMPUR, April 12 (Bernama) -- Kejuruteraan Asastera Bhd, (KAB) via its wholly-owned company, KAB Gree Solar Sdn Bhd and Mydin Mohamed Holdings Bhd (Mydin) have signed a power purchase agreement (PPA) to develop a renewable energy asset for Mydin in Kelantan. 

Under the PPA, KAB Gree Solar will design, construct, install, own, operate and maintain a grid-connected solar photovoltaic (PV) energy system on the roof of the open car park of the Mydin Tunjong Hypermarket. 

KAB managing director, Datuk Lai Keng Onn said the PPA enables the group to support Mydin’s commitment to the future generation, which emphasises the importance of a sustainable operating environment. 

“This long-term contract with such a committed retailer is in line with our strategy of engaging with organisations that share the same value,” he said in a statement today.

Under phase one of the PPA, KAB will provide Mydin with up to 2,041.65 kilowatts peak (kWp) of solar electricity in total throughout the term of the agreement.

Meanwhile, Mydin is expected to generate approximately 66 million kilowatts per hour (kWh) in energy savings, and approximately 38,650 tonnes of carbon dioxide equivalent (CO2e) are avoided over a 21-year period.

Under phase two, KAB will develop a further 2,064.40 kWp once the terms and implementation timeline are finalised.

“We have always been looking for an opportunity to work together with organisations that are keen to reduce their carbon footprint, and we have done this successfully by continuously engaging with corporations that share similar aspiration with us,” said Lai.

The group said the PPA is fully aligned with KAB’s long-term strategy to develop renewable energy assets as one of its key growth drivers.

To-date, it has announced various renewable energy projects via strategic collaboration with companies in the ASEAN region.

-- BERNAMA


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