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Kinergy Advancement Berhad (KAB), a top 10 energy sustainability solutions provider in APAC for 2024, known as the One-Stop Sustainable Energy & Engineering Solutions Specialist, has entered into a Memorandum of Understanding (MOU) with Permodalan Kedah Berhad (PKB), a state-owned investment company in Kedah. The MOU, signed on June 19, 2024, through KAB’s wholly-owned subsidiary KAB Energy Holdings Sdn Bhd (KABEH), aims to advance clean, renewable energy projects.
The partnership will leverage the combined technical expertise and business acumen of both entities. PKB will focus on identifying potential land for renewable energy projects and securing necessary project licenses and authorizations. KABEH will handle the technical aspects, drawing on its extensive experience in the energy sector.
Dato’ Lai Keng Onn, Executive Deputy Chairman and Group Managing Director of KAB, expressed optimism about the collaboration: “This partnership embodies a shared vision between KAB and PKB. Beyond this MOU lies a vision for accelerated growth aimed at transforming Kedah into a beacon of progress and innovation. KAB values PKB’s dedication to advancing the state through innovative technologies that prioritize environmental impact reduction alongside achieving energy conservation, stability, and resilience in line with Kedah’s sustainable development objectives.”
YBrs. Tuan Mohd. Azad Bin Jasmi, Chief Executive Officer of PKB, added: “PKB seeks to integrate our strategic land and resource management capabilities with KAB’s expertise in energy and engineering to advance sustainability-focused technologies. Through this collaboration, we aim to foster substantial transformative impacts that support sustainable progress in Kedah, focusing on feasible energy project development.”
The collaboration targets various energy generation projects across Malaysia, particularly in Kedah. The MOU encompasses Clean Energy (cogeneration, waste heat recovery), Renewable Energy (solar plant/farm and floating solar, rooftop solar PV, waste-to-energy, hydroelectric), Energy Efficient solutions (building management systems, chiller optimization), and Engineering scope of works (infrastructure and internal building works). Additionally, the partnership explores new opportunities, including battery storage systems, district cooling systems, and a commitment to further cooperation in sharing resources and information.
Through this cooperative effort, KAB aims to expand its market presence in Malaysia, enhancing its sustainable energy portfolio and solidifying its position as a One-Stop Energy & Engineering Solutions Provider. Recognizing PKB’s trust, KAB is privileged to collaborate with PKB in pursuing mutual objectives, generating new opportunities for both entities, and contributing to the state’s economic and environmental goals.
“Together, we aim to establish a model of innovation and sustainability that benefits both our stakeholders and the communities we serve,” concluded Dato’ Lai, highlighting the MOU signing as evidence of the Group’s ongoing success as a key energy player. |
