Keppel, Masdar tie up for decarbonisation, sustainability projects in Asean, Middle East

KEPPEL Corporation’s infrastructure division will tie up with the Abu Dhabi Future Energy Company PJSC (Masdar) to develop decarbonisation and sustainability solutions in Asean and the Middle East, the companies said on Thursday (Dec 7).

Both parties have inked a memorandum of understanding at the 2023 United Nations Climate Change Conference (COP28) in the United Arab Emirates.

They will explore solutions to support the development and deployment of utility-scale renewable projects in Asean, as well as facilitate the cross-border flow of low-carbon energy through energy storage and grid transmission systems.

The companies will also explore the feasibility of co-developing large scale floating solar photovoltaics systems in Singapore and the region.

In the Middle East, Keppel and Masdar will identify and pursue opportunities in energy-as-a-service, waste-to-energy and advanced, high energy-efficiency desalination treatment. Keppel will leverage its expertise in these areas, while Masdar contributes its networks in Saudi Arabia, United Arab Emirates and Oman.

“The partnership will leverage Keppel’s experience in cross-border electricity trade in Asean, as well as benefit from Masdar’s plans to implement renewable projects in South-east Asia,” said Cindy Lim, chief executive of Keppel’s infrastructure division.

SEE ALSO

Keppel’s acquisition of Aermont to deliver growth and diversification benefits: analysts

Keppel to buy Aermont Capital in two phases for up to 931.9 million euros

Keppel, NUS to launch hybrid AC/DC microgrid as part of multi-pronged project

Masdar chief executive Mohamed Jameel Al Ramahi said South-east Asia is an important strategic market for Masdar. He noted that the collaboration builds on Masdar’s existing partnership portfolio in the wider Asean region.

Keppel’s counter ended 0.9 per cent or S$0.06 higher at S$6.81 on Wednesday.