KWAP joins Lestari Cooling Energy

On 25 March 2026, Stonepeak and KJTS announced KWAP as an investor in Lestari Cooling Energy, their Malaysian district cooling platform. KWAP is expected to commit up to approximately MYR190 million through its Dana Iklim+ climate initiative. This is KWAP capital, rather than a disclosed payment by Stonepeak. The platform develops district cooling and electricity distribution assets predominantly in Malaysia. Aggregate commitments and debt could capitalize the venture at up to MYR1.5 billion. The partners identify urbanization, energy-efficiency programs and data-center development as demand drivers. The announcement connects the investment to Malaysia's National Energy Transition Roadmap and forecasts emissions savings at full deployment.