Tuesday, 10 October 2017

KNM Awards UK EPCC Contract To China Western Power Industrial

KNM Group Bhd’s UK subsidiary, Peterborough Green Energy Ltd, has executed and awarded a £346 million (RM1.9 billion) engineering, procurement, construction and commissioning contract (EPCC) to China Western Power Industrial Co Ltd (CWPC) on a deferred payment scheme.

In a filing to Bursa Malaysia today, the company said the contract involves the erection of a net 36 megawatt energy from waste power plant for its Peterborough Green Energy Project in the UK.

KNM said the contract is for a period of 37 months from the commencement date of the construction, which is expected to commence in first quarter of 2018.

It said upon successful completion and commissioning of the plant, the project is expected to yield positive returns in line with KNM’s long term strategic direction of generating sustainable and recurring income streams from its renewable energy businesses for the Group.