Stonepeak has forged a joint venture with KJTS Group Berhad, a Malaysia-based provider of energy-efficient cooling solutions and integrated energy management services, dedicated to developing and investing in district cooling facilities.
Southeast Asia, one of the hottest regions globally, is a fast-growing market for district cooling. Particularly in Malaysia, industrial urbanization, expanding energy-efficiency initiatives and the rapid buildout of data centers have markedly increased the need for district cooling systems, which are able to reduce total energy consumption by 40 percent to 50 percent, relative to traditional cooling methods.
The joint venture, expected to be capitalized at MYR 1.5 billion ($340 million) through aggregate commitments from Stonepeak, KJTS and debt funding, will target an actionable addressable market of more than MYR 2 billion ($450 million) in project deployment opportunities per year. The partnership will initially invest in a diversi
