Keppel to roll out energy-as-a-service infrastructure for S$50m

Benjamin Cher

Published Wed, Oct 27, 2021 · 01:27 PM

A S$50 million contract to roll out energy-as-a-service (EaaS) infrastructure at Perennial Business City has been secured by Keppel Infrastructure.

The infrastructure consists of efficient chiller systems, photovoltaic solar panels and electric vehicle charging stations among others, according to a bourse filing by parent company, BN4 : BN4 0% on Wednesday (Oct 27).

"EaaS is an appealing value proposition as customers, such as building or asset owners, do not need to make upfront capital investment, and instead enter into a recurring subscription and service contract for energy usage and management," said Cindy Lim, chief executive officer of Keppel Infrastructure, in a press statement.

Perennial Business City, which is majority-owned and managed by Perennial Holdings, is a business park located in the Jurong Lake District in Singapore. Perennial is spending S$100 million to redevelop the property, and is rolling out a sustainable EaaS infrastructure to power a sustainable low energy building with renewable energy.

Keppel Infrastructure will design and build chiller systems to help the business park achieve the Building and Construction Authority's certification for Green Mark Super Low Energy. The 1,800 solar panels that will be installed will generate about 1,200 megawatt hour per year and reduce 500 tonnes of annual carbon emissions, helping both companies achieve sustainability in operations.

Keppel Corp does not expect this contract to have a material impact on earnings per share or net tangible per share for the current financial year.