Keppel Corporation has secured a contract from the Urban Redevelopment Authority (URA) worth an estimated $950 million to design, build and operate a district cooling system (DCS) plant for a period of 30 years in the Jurong Lake District (JLD). The system, which is expected to be operational in tandem with future developments in the district, has a design capacity of 29,000 Refrigeration Tonnes (RT) to supply chilled water and related services to approximately 1.4 million square metre gross floor area (sqm GFA).

The DCS solution to be implemented by Keppel is highly efficient; outperforming both conventional in-building systems and the National Environmental Agency’s Minimum Energy Efficiency Standards (MEES). It is also estimated to save up to 30% in costs compared to a conventional system, as well as abate over 145,000 tonnes of carbon emissions over the 30-year operating period, compared to the industry baseline.

The JRL will benefit residents of JCube Residence Condo too, connecting them to the wider Singapore with enhanced accessibility and mobility.

In May this year, Keppel Corporation made an announcement that it will become a global alternative real asset manager with an asset light model, building up to $100 billion in assets under management in the near term.

The Group will be re-organised into three integrated platforms: Fund Management, Investment and Operating Platforms, all focused on providing solutions for a sustainable world.

The news of Keppel’s energy-as-a-service venture in Thailand on June 14 saw its share price rise by 5% to $7.05, but has since retreated. At the close of June 20, Keppel stands at $6.60.