KAB secures three solar projects in Thailand

KUALA LUMPUR, Nov 18 -- Kejuruteraan Asastera Bhd’s (KAB) indirect subsidiaries, KAB Gree Solar Thai Co Ltd (KABGST) and Energy Optimisation (Thailand) Co Ltd (EOT), have secured three projects in Thailand for Grid Connected Photovoltaic (GCPV) solar systems with an estimated aggregate capacity of 4,537 kilowatt-peak.

In a filing with Bursa Malaysia, KAB said KABGST and EOT have entered into six Power Purchase Agreements (PPAs) with Aapico Ayutthaya Group of Companies (Ayutthaya), Great Glove (Thailand) Co, Ltd, and Volcano Tec Thailand Co, Ltd with a total estimated value of RM55.71 million. 

In a separate statement, KAB managing director Datuk Lai Keng Onn said the total savings and reduction of carbon dioxide for all the three projects were computed over 25 years, being the average lifespan of solar panels.

“Construction of the solar systems for Aapico Ayutthaya and Volcano Tec are expected to be completed within 12 months from the date of the construction permit being approved.

“The Great Glove project is anticipated to complete within ten months from the date of the PPA,” he said.

On the group’ prospects, he said KAB continues to increase its tender capacity in the renewable energy segment in the Southeast Asian region, given the ample room for growth in the sector.

“Particularly in Thailand, the local government has pledged to increase its share of renewable energy consumption to 35 per cent by 2037,” he said.

The projects are expected to contribute positively to the future earnings of KAB for the duration of the contracts.

-- BERNAMA