Keppel, Keppel Asia Infrastructure Fund (KAIF) and a co-investor have taken full ownership of Singapore-based Cleantech Renewable Assets (CRA), a solar energy platform focused on the commercial and industrial (C&I) segment, with assets across India and Southeast Asia.
Keppel, KAIF and the co-investor acquired the remaining 49 percent stake in the company from Shell Singapore. This follows their initial acquisition of a 51 percent stake in CRA in October 2022. Since then, CRA more than doubled its solar portfolio to a total capacity of about 1.1 gigawatts across various stages of operations and has expanded its capabilities into wind projects. The company is aiming to add another gigawatt of solar assets by the end of 2026.
“Holding all of Cleantech will strengthen our ability both as a key investor and general partner to drive performance, accelerate decision making as well as augment Keppel’s ability to create greater value from a proven and scalable renewable
