Kejuruteraan Asastera Berhad an electrical and mechanical engineering services provider through its indirect subsidiaries, KAB Gree Solar Thai Co Ltd and Energy Optimisation (Thailand) Co Ltd, have secured three projects for Grid Connected Photovoltaic (“GCPV”) solar systems with an estimated aggregate capacity of 4,537 kilowatt-peak in Thailand.
The project entails for KAB to finance, design, construct, own and operate the GCPV solar system with a total installed capacity of 3,376 kilowatt-peak for the industrial plants owned by the four companies in Thailand. The deployment of this solar system will generate total savings of 109,924,018 kilowatt-hours of electricity consumption.
The total savings and reduction of carbon dioxide for all three projects are computed over 25 years, being the average lifespan of solar panels. Construction of the solar systems for Aapico Ayutthaya and Volcano Tec is expected to be completed within twelve (12) months from the date of the construction permit being approved. The Great Glove project is anticipated to complete within ten (10) months from the date of the PPA.
KAB managing director Dato’ Lai Keng Onn. Dato’ Lai added that these projects will contribute positively to KAB’s earnings. On the Group’ prospects, KAB continues to increase its tender capacity in the renewable energy segment in the Southeast Asia region, given the ample room for growth in this sector. Particularly in Thailand, the local government has pledged to increase its share of renewable energy consumption to 35% by 2037.
Currently, KAB has a combined installed capacity of 11,534 kilowatt-peak of solar projects, which include 3,912 kilowatt-peak in Thailand. The signing of these new PPAs will elevate the installed capacity to 16,071 kilowatt-peak, of which Thailand will account for 53% or 8,449 kilowatt-peak of the total installed capacity of the solar projects.
