KAB secures three new photo voltaic initiatives value RM55.71mil

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KUALA LUMPUR: Kejuruteraan Asastera Bhd (KAB) has secured three new photo voltaic photovoltaic (PV) initiatives in Thailand value RM55.71mil.

In a submitting with Bursa Malaysia, KAB stated its oblique subsidiaries, KAB Gree Photo voltaic Thai Co Ltd (KABGST) and Power Optimisation (Thailand) Co Ltd (EOT), secured three initiatives for grid linked photovoltaic (GCPV) photo voltaic methods with an estimated mixture capability of 4,537 kilowatt-peak in Thailand.

In response to KAB, 4 15-year energy buy agreements (PPAs) can be signed between KABGST and Aapico Group of Corporations, which contains 4 subsidiary firms.

“KABGST shall procure, ship and set up a GCPV photo voltaic system with an put in capability of three,376 kilowatt-peak for the economic crops owned by the 4 subsidiaries,” KAB stated.

In the meantime, a 20-year PPA can be signed between EOT and Nice Glove (Thailand) Firm Restricted for a GCPV photo voltaic system to be put in on the rooftop of the Manufacturing unit (F6) in Phuket, Thailand.

“This technique with an put in capability of 610 kilowatt-peak is predicted to generate whole financial savings of 20,087,438 kilowatt-hour of electrical energy consumption. This photo voltaic system will assist keep away from 12,836 tonnes of CO2 emissions,” KAB stated in a separate assertion.

Moreover, a 20-year PPA can be signed between KABGST and Volcano Tec Thailand Co Ltd, involving an put in capability of 551 kilowatt-peak of GCPV photo voltaic system within the latter’s property.

“The event of the GCPV photo voltaic system venture will obtain a complete financial savings of electrical energy consumption of 17,206,292 kilowatt-hour. This photo voltaic system will assist keep away from 11,941 tonnes of CO2 emissions,” it stated.

“The overall financial savings and discount of carbon dioxide for all of the three initiatives are computed over 25 years, being the typical lifespan of photo voltaic panels.

“Development of the photo voltaic methods for Aapico Ayutthaya and Volcano Tec are anticipated to be accomplished inside 12 months from the date of the development allow being authorised. The Nice Glove venture is anticipated to finish inside ten months from the date of the PPA,” KAB stated.

KAB managing director Datuk Lai Keng Onn stated the initiatives would contribute positively to KAB’s earnings.

“On the Group’ prospects, KAB continues to extend its tender capability within the renewable power section within the Southeast Asia area, given the ample room for development on this sector.

“Significantly in Thailand, the native authorities has pledged to extend its share of renewable power consumption to 35% by 2037,” Lai stated.

At present, KAB has a mixed put in capability of 11,534 kilowatt-peak of photo voltaic initiatives, which embody 3,912 kilowatt-peak in Thailand.

The signing of those new PPAs will elevate the put in capability to 16,071 kilowatt-peak, of which Thailand will account for 53% or 8,449 kilowatt-peak of the overall put in capability of the photo voltaic initiatives.



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