KJTS Group Berhad, a provider of energy-efficient cooling solutions and integrated energy management services based in Malaysia, and Stonepeak, an alternative investment firm specializing and real assets, has announced the addition of Kumpulan Wang Persaraan (Diperbadankan) (KWAP), Malaysia’s public sector pension fund, as an investor in their district cooling joint venture platform, Lestari Cooling Energy.
The addition of KWAP as an investor — KWAP is expected to commit up to approximately MYR 190 million ($48 million) of capital — strengthens Lestari Cooling Energy’s platform and enhances the company’s strategy to invest in and develop diversified district cooling and electricity distribution assets predominantly in Malaysia. District cooling systems are globally recognized as the gold standard for efficiency, capable of reducing total energy consumption by up to 50 percent and offer a lower carbon dioxide footprint compared with other traditional cooling methods.
