Keppel unit enters JV to manage cooling sector in Thailand
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Since launching energy-as-a-service business in late 2021, Keppel has been gaining market traction with several deals signed.
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SINGAPORE - Keppel Infrastructure Holdings, through its unit Keppel EaaS in Thailand (KET), has entered into a joint venture (JV) with Combined Heat and Power Producing (CHPP) for the provision of comprehensive energy-as-a-service (EaaS) within the cooling sector in Thailand.
This includes the design, installation, operation, and maintenance of cooling systems within the country.
KET will pay 490,000 baht (S$18,451) for 49 per cent interest in the JV, and Thailand-based CHPP will purchase the remaining 51 per cent for 510,000 baht.
The amounts will be payable in cash on completion of the subscription.
The initial share capital of the JV – and of KET’s and CHPP’s subscription amounts – were arrived after taking into account the initial working capital requirements.
None of the directors and controlling shareholders of the parent company, Keppel, has any interest in the transactions, other than through their shareholding interests in the company.
The above transaction is not expected to have any material impact on the net tangible assets per share or earnings per share of Keppel for the current financial year.
Since launching its EaaS solution in late 2021, Keppel has been gaining market traction with several deals signed. Among them include US$70 million (S$92 million) worth of contracts inked with Vietnam signed in late 2023.
It was also awarded a contract by the Urban Redevelopment Authority to design, build, own and operate a new large-scale district cooling system plant for 30 years located in the Jurong Lake District. THE BUSINESS TIMES
