Keppel Infrastructure, a unit of Singapore-listed Keppel Corporation, will buy a stake in Met Holding, a Switzerland-based energy company, for €53 million ($55 million).
The joint venture between KI and MET Group serves as the next phase of their strategic partnership since KI invested 20 percent in MET Group in 2020. The new joint venture, Keppel MET Renewables, will pursue and invest in both greenfield and brownfield solar and onshore wind assets across Western Europe, which will complement MET Group’s businesses across Europe. The joint venture has a target to scale up rapidly to at least 1 gigawatt (GW) of operating and ready-to-build renewable energy projects.
As part of the strategic deal, KI divested a 10 percent stake, out of the 20 percent it owned, of MET Group to Benjamin Lakatos, the founder and CEO of MET Group, and reinvested the proceeds, including gains, from the divestments into the joint venture. KI will invest approximately €30 million ($31 mil
