Kejuruteraan Asastera Berhad, via its wholly-owned company KAB Gree Solar Sdn Bhd, and MyDin Mohamed Holdings Berhad, have signed a Power Purchase Agreement. This allows the former to design and construct, own, manage, and maintain a grid-connected solar photovoltaic power system on the roof at Mydin Tunjong hypermarket’s open car park.
KAB will supply Mydin with up 2,041.65kWp of solar electricity during the term of the Phase 1 PPA. Mydin will generate approximately 66,000,000 kWh of energy savings, and 38,650 tonnes (CO2e), in carbon dioxide equivalent over a 21 year period. KAB will also develop 2,064.40kWp in phase 2 of the project, once terms and timelines are set.
KAB received a letter from Mydin last year to develop and invest in a 4,000-kWp solar roof system for its own use. This will be used for its Tunjong, Kelantan outlet, which is more than 1 million square feet of retail space.
“KAB and Mydin have been working together on this for more than a year. With this agreement in place, we are able to support Mydin’s commitment for the future generation which emphasizes on the importance of a sustainable operating environment. This long-term contract with such a committed retailer is in sync with our strategy of engaging with organisations that share the same value. KAB has been building our renewable energy portfolio in Vietnam, Indonesia and Thailand, so we are always excited to be able to do the same back here. We have always been looking for an opportunity to work together with organisations that are keen to reduce their carbon footprint and we have done this successfully by continuously engaging with corporations that share similar aspiration with us.” said Dato’ Lai Keng Onn, Managing Director of KAB.
This agreement is fully aligned with KAB’s long-term strategy to develop renewable energy assets as one of its key growth drivers. KAB has announced various renewable energy projects via strategic collaboration with companies in the Asean region.