Kawan Renergy Bhd, through its subsidiary Kawan Engineering Sdn Bhd, has secured a RM58 million subcontract from KAB Energy Holdings Sdn Bhd (KABEH), key sustainable energy solutions entity of Kinergy Advancement Bhd (KAB).
The contract includes engineering, procurement, construction, and commissioning (EPCC) services for a 52-MW power plant located in Sipitang, Sabah. This project is slated for completion by the first quarter of 2026.
Managing Director Lim Thou Lai highlighted that the project will enhance the company’s financial performance starting from this fiscal year ending October 31 ,2024 and onward.
Lim stated that their diverse project portfolio currently includes industrial process equipment, process plants, and renewable energy and co-generation facilities.
This growth is bolstered by Kawan Renergy’s recent IPO and the increasing demand for renewable energy solutions and co-generation facilities, aligning with Malaysia’s 2050 net-zero emissions goal, which aims to increase renewable energy composition to 70 percent of the total generation capacity by 2050.
