Keppel Asia Infrastructure Fund (KAIF) and a co-investor have acquired the remaining 49% stake in Cleantech Renewable Assets (CRA) from Shell Singapore, securing full ownership of the solar platform, which has assets across India and Southeast Asia.
KAIF and its partner brought a 51% stake in CRA in October 2022.
Jopy Chiang, deputy CIO of Keppel and CIO of infrastructure, said full ownership would accelerate decision-making as well as augment Keppel’s ability to create greater value from a proven and scalable renewable energy platform.
“By working closely with Cleantech’s management team and applying Keppel’s deep operating expertise, we aim to unlock new growth opportunities and enhance returns for Keppel and our limited partners, while advancing our strategic focus on renewables, clean energy and decarbonisation.”
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