Market listed Kawan Renergy Bhd (KEnergy) has received a ‘Buy’ call from Public Investment Bank Bhd in an initiation report with a 52-week target price of 76 sen, promising a close to 20% return on the share price.
“KEnergy is well positioned to benefit from the convergence of rising electricity demand and decarbonisation pressure. The rapid expansion of data centres, industrial loads and urban electrification is creating pressure on grid connection timelines in addition to NETR targeting a 70% renewable energy mix by 2050 with 1.4GW of bioenergy capacity.
“Co-generation and bioenergy systems are emerging as practical on-site alternatives to bridge grid constraints and to reduce carbon intensity,” according to the report released recently.
It said the call on its share price reflected KEnergy’s strategic positioning within Malaysia’s energy transition and alternative power ecosystem.
Energy is an integrated engineering solutions provider specialising in the design, fabrication, installation and commissioning of industrial process equipment, process plants, renewable energy and co-generation systems.
