Malaysia's KAB wins 4.5 MW of solar projects backed by 6 PPAs in Thailand

Malaysian electrical and mechanical engineering company Kejuruteraan Asastera Bhd (KLSE:KAB) has secured three solar PV projects with an estimated combined capacity of 4,537 kWp that will be backed by six power purchase agreements (PPAs) with industrial customers in Thailand.

According to today’s bourse filing, KAB’s two indirect subsidiaries were the ones to win the MYR-55.7-million (USD 13.3m/EUR 11.8m) job of installing two ground-mounted and one rooftop solar array for a group of entities in Thailand’s manufacturing sector.

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The subsidiary known by its acronym as KABGST will finance, design, build, own and operate a grid-connected solar farm of some 3.4 MW for four factories run by units of Thai car parts maker Aapico Group.

KABGST will get to sign four 15-year PPAs for this project with the four factory owners.

KABGST is also in line to sign a 20-year PPA with Volcano Tec Thailand Co Ltd, a unit of Malaysian manufacturer of metal and non-metal nameplates and plastic injection moulded parts Volcano Bhd (KLSE:VOLCANO). This contract will entail the installation of a 551-kWp grid-connected solar PV system at Volcano Tec’s property.

Finally, another KAB’s subsidiary, EOT, will sign a 20-year PPA with latex gloves maker Great Glove (Thailand) Company Limited, which will support the installation of a 610-kWp solar array on the rooftop of the customer’s factory in Phuket.

At present, KAB has solar projects with a combined installed capacity of 11.5 MWp, including 3.9 MWp in Thailand, according to the Malaysian company.

(MYR 1.0 = USD 0.239/EUR 0.211)