Keppel partners Perennial to provide ‘energy-as-a-service’ in Chengdu

GLOBAL asset manager Keppel is collaborating with Perennial to roll out “energy-as-a-service” (EaaS) in Chengdu, China, said the company on Thursday (Jul 25).

Keppel’s EaaS service enables businesses and building owners to enter into a supply-and-service contract for energy usage and management without making significant upfront capital investment.

The Chengdu EaaS contracts are with Perennial Qingyang Mall and Perennial International Healthcare and Medical Hub.

Under the agreement, Keppel will design, retrofit, manage and operate the cooling and heating systems of the two developments for 10 years.

The developments will be furnished with energy systems that have a combined cooling capacity under management of more than 11,000 refrigerant tonnes.

Upgrading works for both developments are slated for completion by the end of 2024.

The company also said the projects will reduce more than 1,500 tonnes of carbon emissions annually, equivalent to planting 150,000 trees. More than 20 per cent in energy savings are expected over the contract period.

Both Keppel and Perennial do not expect the agreement to have any material impact on their net tangible asset per share or earnings per share for the current financial year.

This partnership comes after Keppel implemented its EaaS solutions at the Perennial Business City in Singapore. The project included the installation and operation of chiller systems and photovoltaic solar panels, as well as the setting up of smart electric vehicle charging stations.

Shares of Keppel were trading 0.8 per cent or S$0.05 lower at S$6.51 as at 10.22 am on Thursday.