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KAB and Permodalan Kedah Berhad Join Forces to Advance Energy Generation Business

Publish date: Mon, 24 Jun 2024, 01:45 PM

Kinergy Advancement Berhad (KAB)
 has taken a significant step forward in the energy sector by signing a Memorandum of Understanding (MOU) with Permodalan Kedah Berhad (PKB). This collaboration aims to develop a range of energy generation projects in Malaysia, with a primary focus on Kedah. The partnership leverages the combined strengths of both entities to push forward various clean and renewable energy initiatives.

Who is Permodalan Kedah Berhad (PKB)?

Permodalan Kedah Berhad (PKB) is a state-owned investment holding company based in Kedah, Malaysia. Established with the objective of driving economic development within the state, PKB focuses on managing and developing a diverse portfolio of investments across various sectors. The company plays a crucial role in the regional economy by facilitating growth through strategic investments and partnerships. PKB’s expertise spans multiple industries, including real estate, agriculture, and now, renewable energy. Their mission is to enhance the economic prosperity of Kedah while ensuring sustainable and inclusive growth for the local community. By leveraging its resources and strategic vision, PKB aims to foster significant advancements in both economic and social development within the state.

What’s the MOU About?

KAB, through its wholly-owned subsidiary KAB Energy Holdings Sdn Bhd, and PKB have agreed to jointly work on several energy projects. These projects include solar plants, floating solar, waste-to-energy, rooftop solar, hydroelectric power, and battery storage systems. Additionally, the collaboration will cover energy-efficient solutions and various engineering projects.

Significance of the Partnership

This partnership is expected to significantly enhance KAB’s market presence and expand its portfolio of sustainable energy solutions. It aligns perfectly with Malaysia’s broader goals of reducing carbon emissions and promoting environmental sustainability. For investors, this collaboration strengthens KAB’s position in the renewable energy market, potentially leading to promising returns.

For information, KAB is recognized as one of APAC’s top energy sustainability solution providers for 2024. The company is involved in various sustainable energy initiatives, including co-generation, waste heat recovery, solar, biogas, and hydroelectric power. KAB’s commitment to expanding its sustainable energy solutions is evident from its growing portfolio, which currently includes 27 SES projects across Southeast Asia.

Looking Ahead

With this collaboration, KAB and PKB are poised to drive significant growth in Malaysia’s renewable energy sector. This partnership not only aims to meet the increasing demand for sustainable energy solutions but also contributes to the economic and environmental goals of the state of Kedah and beyond.

For investors, KAB is definitely worthwhile to be added into portfolio.

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