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Kinergy Advancement Teams Up with Permodalan Kedah To Advance Energy Generation Business

KUALA LUMPUR: Kinergy Advancement Bhd’s (KAB) wholly-owned subsidiary, KAB Energy Holdings Sdn Bhd (KEH), signed a memorandum of understanding (MoU) with Permodalan Kedah Bhd (PKB), a state-owned investment company in Kedah.

Inking the energy deal for Kedah. L-R: Kinergy Advancement Bhd non-independent non-executive director Datuk Wira Mubarak Hussain exchanging documents with Permodalan Kedah Bhd chief executive officer Tuan Mohd Azad Jasmi.

This partnership, signed on June 19, 2024, will see both entities jointly work towards the realisation of clean, renewable energy projects by integrating their combined technical expertise and extensive business acumen.

KAB executive deputy chairman and group managing director Datuk Lai Keng Onn expressed his optimism about this collaboration.

“This partnership embodies a shared vision between KAB and PKB. Beyond this MoU lies a vision for accelerated growth to transform Kedah into a beacon of progress and innovation.

“KAB values PKB’s dedication to advancing the state through innovative technologies that prioritise environmental impact reduction alongside achieving energy conservation, stability and resilience in line with Kedah’s sustainable development objectives,” he said in a statement.

PKB will lead efforts in identifying potential land for renewable energy projects and assisting in obtaining project licensing and authorisation responsibilities.

KEH, on the other hand, will assume the technical responsibilities, utilising its broad experience in the energy sector.

PKB chief executive officer Tuan Mohd Azad Jasmi said the agency seeks to integrate its strategic land and resource management capabilities with KAB’s expertise in energy and engineering to advance sustainability-focused technologies.

“Through this collaboration, we aim to foster substantial transformative impacts that support sustainable progress in Kedah, focusing on feasible energy project development,” he said.

This collaboration aims to synergise the strengths of KAB and PKB in developing various energy generation projects across Malaysia, with a primary focus on Kedah.

The MoU focuses on deploying clean energy (cogeneration, waste heat recovery), renewable energy (solar plant/farm and floating solar, rooftop solar PV, waste-to-energy, hydroelectric), energy-efficient (building management systems, chiller optimisation) solutions, and engineering scope of works (infrastructure and internal building works).

PKB and KAB have forged a forward-thinking partnership that explores new opportunities, including implementing battery storage systems and solutions, district cooling systems for existing and new buildings and assets, and a commitment to further cooperation in sharing resources and information.

Through this cooperative effort, KAB seeks to expand its market presence in a progressive Malaysian state, enhance its sustainable energy portfolio, and strengthen its position as a one-stop energy and engineering solutions provider.

Recognising PKB’s trust, KAB is privileged to collaborate with PKB to pursue mutual objectives, generate new opportunities for both entities and contribute to the state’s economic and environmental goals.

“Together, we aim to establish a model of innovation and sustainability that benefits both our stakeholders and the communities we serve,” Lai said, citing the MoU signing as evidence of the company’s ongoing success as a key energy player.


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