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Keppel Corp., Keppel Infrastructure Trust to jointly acquire Swedish wind farm stake
Transactions - MAY 11, 2023

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Keppel Corp., Keppel Infrastructure Trust to jointly acquire Swedish wind farm stake

by Kali Persall

Keppel Corp. and Keppel Infrastructure Fund Management (KIFM) are jointly acquiring a 16.3 percent stake in a Swedish onshore wind farm for €4.7 million ($5.1 million). The 17-megawatt Fäbodliden II wind farm is currently at an advanced stage of development and is expected to be completed in the second half of 2023.

The stakes held by Keppel and Keppel Infrastructure Trust (KIT), managed by KIFM, are 2.9 percent and 13.4 percent, respectively, with the remaining 83.7 percent owned by Kommunal Landspensjonskasse (KLP), MEAG MUNICH ERGO Asset Management and Fred. Olsen Renewables.

In September 2022, Keppel and KIT jointly invested alongside KLP and MEAG, each for a 33.33 percent stake in a joint investment vehicle, for a 49 percent share of an initial portfolio of onshore wind energy assets across Norway and Sweden sponsored by FORAS. As part of the deal, Keppel, KIT, KLP and MEAG also have the exclusive right and obligation to coinvest in 49 percent of all of FORAS

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