Singaporean companies, Keppel Corporation and Keppel Infrastructure Trust (KIT) announced on 12 August 2022 to invest 305 million euros on the Borkum Riffgrund 2 offshore wind farm in Germany that is 50% owned by Danish renewables firm Ørsted along with a unit for a 50.01% stake in a special purpose vehicle (SPV) owned by Thailand’s Gulf International Holding.
“The transaction further accelerates the growth of the group’s exposure in renewable energy assets,” said Keppel.
The project has been fully operational since 2019 under the German EEG 2014 market premium mechanism and it has an operating capacity of about 465 megawatts.
This deal of the two companies is expected to be completed in the fourth quarter of 2022.
Previously of 2022, Keppel Corp and KIT have also invested in onshore wind farm assets across Sweden and Norway.