>

Keppel wins 20-year centralised cooling systems contract for Tengah BTO projects

By Felicia Tan

/ The Edge Singapore |

September 30, 2024 11:46 AM SGT

Keppel's CCS for Tengah. (Photo: Keppel)

Keppel’s infrastructure division has been awarded the chilled water supply contract by the Housing & Development Board (HDB). The 20-year contract will see Keppel designing, building, owning and operating centralised cooling systems (CCS) at three upcoming build-to-order (BTO) projects in Tengah. It will serve some 3,500 households across the projects, Brickland Weave, Plantation Edge I & II and Plantation Verge.

In its Sept 30 statement, Keppel says it will work with HDB on delivering the CCS to each home. The system works by piping chilled water to homes from centralised chillers installed on the rooftops of selected HDB blocks to cool the flats. The group says it will incorporate “innovative engineering and design features and [utilise] industrial grade materials” to achieve an industry-standard performance.

When completed, the CCS at these three BTO projects will be connected to Keppel’s Operations Nerve Centre (ONC) for remote control and real-time performance monitoring.

“We are glad to welcome a well-established player like Keppel on board as a CCS service provider for future BTO projects. With more market players participating in the provision of CCS services in a public housing setting, we hope to further strengthen the industry’s capabilities and deepen the CCS ecosystem, to make HDB living highly liveable and sustainable,” says Tan Meng Dui, CEO of HDB.

“Keppel is pleased to be awarded the contract to provide cooling services to these three latest precincts in Tengah,” adds Cindy Lim, CEO of Keppel’s infrastructure division. “With more than two decades of track record serving the cooling needs of business parks, commercial offices, hotels and malls as well as mission-critical facilities, such as wafer fabs and data centres, Keppel is well-placed to work hand-in-hand with HDB to provide high-quality and modern cooling solutions to homeowners.”

Including assets under development, Keppel has a combined cooling portfolio of over 260,000 refrigeration tonnes in the region.

The contract is not expected to materially impact Keppel’s earnings per share (EPS) and net tangible asset (NTA) per share for the current financial year.

As at 9.29am, shares in Keppel are trading 1 cent higher or 0.15% up at $6.63.

Tags: