KWAP joins Stonepeak and KJTS district cooling joint venture Lestari Cooling Energy in Malaysia
Type: Investment · Technology: Industrial · Country: Malaysia · Announced: 2026-03-25
Malaysian pension fund KWAP commits ~RM190 million to Lestari Cooling Energy, the district cooling JV between KJTS Group and Stonepeak. The platform targets up to MYR 1.5 billion (~$380M) in total capital, addressing an MYR 2 billion+ annual market in district cooling and electricity distribution across Malaysia.
Counterparties
- KJTS Group Berhad (Developer)
- Stonepeak Infrastructure Partners (Investor)
- Kumpulan Wang Persaraan (Diperbadankan) (KWAP) (Investor)