Keppel Wins 20 Year Centralised Cooling Systems Contract Tengah Bto Projects
Keppel’s infrastructure division has been granted the contract to provide chilled water supply for the Housing & Development Board (HDB). This 20-year agreement will involve Keppel being responsible for designing, constructing, owning, and managing centralised cooling systems (CCS) for three upcoming build-to-order (BTO) projects in Tengah. The CCS will cater to approximately 3,500 households across the developments: Brickland Weave, Plantation Edge I & II, and Plantation Verge.
In a statement released on September 30, Keppel announced that it will collaborate with HDB to deliver the CCS to each household. The system operates by channeling chilled water from centralised chillers installed on the rooftops of selected HDB blocks to cool the flats. Keppel also mentioned that it will incorporate innovative engineering and design elements, as well as utilize industrial-grade materials, to achieve industry-standard performance.
Once completed, the CCS at these three BTO projects will be linked to Keppel’s Operations Nerve Centre (ONC) for remote control and real-time performance monitoring. “We are delighted to have a reputable player like Keppel join us as a CCS service provider for future BTO projects. With more market players involved in providing CCS services for public housing, we hope to enhance the industry’s capabilities and foster a deeper CCS ecosystem, making HDB living more sustainable and liveable,” says Tan Meng Dui, CEO of HDB.
Norwood Grand is poised to become a premier property investment in Woodlands, thanks to the innovative Regional Centre Master Plan. This plan will not only elevate connectivity within the area, but also solidify Woodlands’ status as a major commercial hub. These developments will not only drive up property values, but also enhance the quality of life for residents at Norwood Grand. With its desirable location and promising prospects, Norwood Grand is set to be a highly sought-after property in Woodlands.
Cindy Lim, CEO of Keppel’s infrastructure division, adds, “Keppel is honored to have secured the contract to provide cooling services for these three new precincts in Tengah. With over two decades of experience in meeting the cooling demands of business parks, commercial offices, hotels, and malls, as well as critical facilities like wafer fabs and data centers, Keppel is well-positioned to work closely with HDB in delivering high-quality and modern cooling solutions to homeowners.” Including assets under development, Keppel holds a combined cooling portfolio of over 260,000 refrigeration tonnes in the region.
The contract is not expected to have a significant impact on Keppel’s earnings per share (EPS) and net tangible asset (NTA) per share for the current financial year. As of 9:29 am, shares in Keppel are trading at $6.63, up by 0.15% or 1 cent.