Kejuruteraan Asastera Berhad (KAB), a Malaysia-based electrical and mechanical engineering company, has signed five Rooftop Solar Power Generating System Construction and Power Purchase Agreements (PPAs) in Thailand. The aggregate capacity will total 4,284 kilowatt-peak (kWp).
The agreements are worth 46.8 million (US$ 11 million) ringgit and are contracted for a duration of more than 25 years.
According to a filing with the Bursa Malaysia, under the agreement, KAB is responsible for building, installing, operating, and maintaining a Grid-Connected Photovoltaic (GCPV) solar system for Siam Machinery and Equipment Co Ltd and four subsidiaries of the Aapico Group of Companies.
“KAB has been actively building a solid base within Thailand's renewable energy space, and the signing of these PPAs has demonstrated our continued foray into Thailand's renewable energy sector, as we remain steadfast in actively replenishing recurring income streams, while at the same time, further solidifying KAB's footing in the industry,” remarked Datuk Lai Keng Onn, KAB managing director.
He went on to say, “Our commitment to our sustainability framework has boded well for KAB as we continue to progress our sustainability efforts to Be Good and Strive to Do Good as a One-Stop Engineering and Energy Solutions Provider.”
The group said that the overall savings that the clients may achieve during the project’s lifetime would be up to 135,433 megawatts.
“This will serve as a solid foundation for our tender capacity in the renewable energy industry in Southeast Asia,” Lai added.
As of February 2022, KAB has a total installed capacity of 12,695 kWp of solar projects, with 5,073 kWp in Thailand and 7,622 kWp in Malaysia.
With the inclusion of the new PPAs, KAB’s total installed solar capacity will increase to 16,979 kWp, with Thailand accounting for 55% of the total capacity.