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Keppel Corp and KIT to jointly invest $445.3 mil in German offshore wind farm

Felicia Tan
Felicia Tan8/12/2022 08:39 AM GMT+08  • 3 min read
Keppel Corp and KIT to jointly invest $445.3 mil in German offshore wind farm
Borkum Riffgrund 2 (BKR2), an offshore wind farm in Germany. Photo: Keppel Corp
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Keppel Corporation and Keppel Infrastructure Trust (KIT) will be jointly investing €305.0 million ($445.3 million) to acquire a 50.01% stake in a special purpose vehicle (SPV) that holds 50% of Borkum Riffgrund 2 (BKR2), an offshore wind farm in Germany.

The SPV is currently wholly-owned by Gulf International Holding, which is a subsidiary of one of Thailand’s largest power producers, Gulf Energy Development Public Company Limited.

Gulf will retain a 49.99% stake in the SPV upon the completion of the acquisition.

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