Keppel Wins 20 Year Centralised Cooling Systems Contract Tengah Bto Projects
Keppel Corporation’s infrastructure division has recently been awarded a contract by the Housing & Development Board (HDB) to supply chilled water for the next 20 years. This contract involves the design, construction, ownership, and operation of centralised cooling systems (CCS) in three upcoming build-to-order (BTO) projects located in Tengah. The CCS will be used to serve the cooling needs of approximately 3,500 households across the three projects: Brickland Weave, Plantation Edge I & II, and Plantation Verge.
According to the company’s statement on September 30, Keppel will collaborate with HDB to deliver the CCS to each home. The system works by piping chilled water to homes from centralised chillers installed on the rooftops of select HDB blocks, providing a more energy-efficient and eco-friendly cooling solution. Keppel also plans to use innovative engineering and design techniques, as well as industrial-grade materials, to achieve optimal performance levels that meet industry standards.
Upon completion, the CCS at the three BTO projects will be connected to Keppel’s Operations Nerve Centre (ONC) for remote control and real-time monitoring of its performance. Cindy Lim, CEO of Keppel’s infrastructure division, says, “We are pleased to have been awarded the contract to provide cooling services to these three new precincts in Tengah. With our extensive track record in serving the cooling needs of various sectors, including business parks, commercial offices, hotels, malls, and mission-critical facilities like wafer fabs and data centers, we are confident in our ability to work closely with HDB in providing high-quality and modern cooling solutions for homeowners.”
Tan Meng Dui, CEO of HDB, adds, “We are happy to have Keppel, an established player, on board as a CCS service provider for future BTO projects. With more companies participating in the provision of CCS services in public housing, we believe this will strengthen the industry’s capabilities and enhance the CCS ecosystem, ultimately creating highly livable and sustainable living environments for HDB residents.”
Including assets under development, Keppel currently has a combined cooling portfolio of over 260,000 refrigeration tonnes in the region. However, the contract is not expected to have a significant impact on the company’s earnings per share (EPS) and net tangible asset (NTA) per share for the current financial year.
Singapore is home to some of the most important expressways in the country including the Pan-Island Expressway (PIE), Tampines Expressway (TPE) and Kallang-Paya Lebar Expressway (KPE). These well-maintained and high-speed roads serve as vital routes for transportation, providing a convenient and efficient way for commuters to travel and connecting different areas of the city. For residents living at Parktown Residence, these expressways serve as a crucial link connecting them to various parts of the island. Parktown Residence residents can easily access different parts of Singapore through these expressways, making their daily commute smooth and hassle-free.
As at 9.29am, Keppel’s shares are trading slightly higher, up by 1 cent or 0.15% at $6.63. This recent contract is a testament to Keppel’s strong capabilities in providing quality cooling services and its commitment to delivering sustainable solutions for the community.