Keppel Corporation, a global asset manager through its infrastructure division, has signed a memorandum of understanding (MOU) with Tokyo-based Sojitz Corporation to explore decarbonisation and clean energy opportunities across the Asia-Pacific region.
Under the MOU, Keppel and Sojitz will collaborate on developing projects related to bioenergy and resource recovery, alongside investing in and operating energy solutions that facilitate the energy transition. This partnership aims to leverage Keppel’s Energy-as-a-Service (EaaS) expertise and innovative solutions in markets where Sojitz has a presence.
Sojitz, listed on the Tokyo Stock Exchange, operates globally with a network of approximately 400 subsidiaries and affiliates across Asia, Europe, the Middle East, and the Americas.
Keppel’s EaaS solutions, launched in late 2021, have gained traction with contracts in Singapore and internationally. Notable projects include a district cooling system for Jurong Lake District in Singapore and enhancements to chilled water systems for a shopping mall and hotel in Bangkok, Thailand.
Cindy Lim, CEO of Keppel’s infrastructure division, highlighted that the partnership merges Keppel’s technical expertise with Sojitz’s extensive international network. “This collaboration demonstrates how businesses with shared goals can expand their reach and drive mutual growth”, Lim stated.
Keppel noted that the MOU is not anticipated to have a significant impact on its net tangible assets or earnings per share for the current financial year. The partnership underscores a strategic move to bolster Keppel’s and Sojitz’s capabilities in advancing clean energy initiatives across the region.