KAB Teams Up with Permodalan Kedah Berhad to Advance Energy Generation Business

● A collaboration that leverages the strengths of both entities in developing various energy generation initiatives in Malaysia, with a primary emphasis on Kedah.

● Key areas of focus amongst others, include solar plants, floating solar, waste-to-energy projects, rooftop solar, hydroelectric, battery storage systems, waste heat recovery and cogeneration, mechanical and electrical engineering works and district cooling systems.

KUALA LUMPUR,– APAC 2024 Top 10 Energy Sustainability Solutions Provider, also known as the One-Stop Sustainable Energy & Engineering Solutions Specialist Kinergy Advancement Berhad (“KAB” or “Group”, “敬业”, Bloomberg: KASB MK), has on 19 June 2024 via its wholly-owned subsidiary KAB Energy Holdings Sdn Bhd ("KABEH"), entered into a Memorandum of Understanding (“MOU”) with Permodalan Kedah Berhad (“PKB”), a state-owned investment company in Kedah.

This partnership, established by the MOU, will witness both entities to jointly work towards the realisation of clean, renewable energy projects by integrating combined technical expertise and extensive business acumen.

PKB will lead efforts in identifying potential land for renewable energy projects and assisting in obtaining project licensing and authorisation responsibilities. KABEH will take on the technical responsibilities, utilising its broad experience in the energy sector.

Dato’ Lai Keng Onn (“Dato Lai”), Executive Deputy Chairman cum Group Managing Director of KAB, expressed his optimism about this 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 prioritise 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, remarked: “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.”

This collaboration targets synergising the strengths of KAB and PKB in developing various energy generation projects across Malaysia, with a primary focus on the state of Kedah. The MOU focuses on deploying Clean Energy (cogeneration, waste heat recovery), Renewable Energy (solar plant/farm and floating solar, rooftop solar PV, waste-to-energy, hydroelectric), Energy Efficient (building management systems, chiller optimisation) solutions, as well as Engineering scope of works (infrastructure and internal building works).

PKB and KAB have forged a forward-thinking partnership that explores new opportunities, including the implementation of battery storage systems/ solutions, district cooling systems for both existing and new buildings and/or assets, and a commitment to further cooperation in sharing resources and information.

Through this cooperative effort, KAB seeks to expand its market presence in a progressive Malaysian state, enhancing its sustainable energy portfolio and strengthening its position as a One-Stop Energy & Engineering Solutions Provider. Recognising 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, citing the MOU signing as evidence of the Group’s ongoing success as a key energy player.