Keppel enters JV to boost Thailand’s cooling sector

By 2025, the JV will expand Keppel’s cooling-as-a-service design capacity in Thailand by 50%

Keppel has signed a joint venture agreement (JVA) with Global Power Synergy Public Company (GPSC) unit, Combined Heat and Power Producing (CHPP) to expand its Energy-as-a-Service (EaaS) footprint in Thailand.

Keppel has also signed a Business Collaboration Agreement (BCA) with PTT Group for the provision of EaaS with GPSC.

Under the JVA, Keppel will work with CHPP to develop cooling services in Thailand through EaaS solutions which include the design, installation, operation, maintenance, and asset performance optimisation of chilled water systems.

CHPP will hold a 51% stake in the joint venture, whilst Keppel will retain the remaining 49%.

Meanwhile, the BCA between Keppel and GPSC will grow the market for sustainable energy solutions in Thailand.

In addition, Keppel and GPSC will support the development of EV charging platforms in Thailand and Singapore, as well as the expansion of the ASEAN Power Grid, using Thailand as a potential source or transit country and Singapore as the recipient.

Keppel’s cooling-as-a-service design capacity in Thailand is expected to increase by over 50% and exceed 35,000 refrigeration tonnes (RT) by 2025.