KWAP climate fund invests in Stonepeak’s-KJTS district cooling project

MALAYSIA: The Retirement Fund, or Kumpulan Wang Persaraan (KWAP), is investing up to RM190 million (US$47.88 million) from its climate-focused fund Dana Iklim+ into district cooling joint venture platform, Lestari Cooling Energy – a Stonepeak-KJTS Group joint venture. Aiming to reduce total energy consumption by up to 50%, Lestari Cooling is to be capitalized at RM1.5 billion (US$378 million). The Dana Iklim+ fund administered by KWAP has a RM2 billion (US$500 million) investment mandate, both conventional and Shariah compliant, towards measurable decarbonization and resilience outcomes.