Keppel, a leading infrastructure company, has been selected by the Housing & Development Board (HDB) to provide the chilled water supply for three upcoming build-to-order (BTO) projects in Tengah. This 20-year contract will involve designing, building, owning, and operating centralised cooling systems (CCS) for the Brickland Weave, Plantation Edge I & II, and Plantation Verge developments. The CCS will serve approximately 3,500 households across these projects.
According to Keppel’s statement on September 30, the company will work with HDB to deliver the CCS to each home. The system operates by transporting chilled water from centralised chillers, located on the rooftops of selected HDB blocks, to cool the homes. Keppel will utilise innovative engineering, design features, and industrial-grade materials to ensure industry-standard performance.
Once completed, the CCS at these BTO projects will be connected to Keppel’s Operations Nerve Centre (ONC) for remote control and real-time performance monitoring.
“We are delighted to have a well-established player like Keppel as a CCS service provider for future BTO projects. With more market players involved in providing CCS services in public housing, we aim to strengthen the industry’s capabilities and foster a deeper CCS ecosystem to create highly livable and sustainable HDB living,” says Tan Meng Dui, CEO of HDB.
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Cindy Lim, CEO of Keppel’s infrastructure division, adds, “Keppel is honored to be awarded the contract to provide cooling services to these three new precincts in Tengah. With over 20 years of experience in servicing the cooling needs of various industries, including business parks, commercial offices, hotels, malls, and mission-critical facilities like wafer fabs and data centers, Keppel is well-positioned to work closely with HDB to provide homeowners with high-quality and modern cooling solutions.”
Keppel currently has a combined cooling portfolio of more than 260,000 refrigeration tonnes in the region, including assets under development. The company expects this contract to have minimal impact on its earnings per share (EPS) and net tangible assets (NTA) per share for the current financial year.
As of 9:29 am, shares in Keppel are trading at $6.63, a 0.15% increase from the previous day.