Swiss-based renewable energy investment platform Keppel MET Renewables (KMR) underlines its commitment to investing into solar energy: The equal joint venture between integrated energy company MET Group and the Infrastructure Division of Singapore-based Keppel Ltd. completed the purchase of a 100% stake in two photovoltaic projects in the Italian regions of Piedmont and Lombardy.
With a total installed capacity of 20 MWp and combined total electricity production of approximately 30 GWh per year, the two solar plants will generate power equivalent to the consumption of more than 10,000 Italian households once they are completed. Both projects, which were developed by Italian clean energy company ReFeel New Energy (RNE), are ready-to-build with commercial operations to commence in 2025.
Luke Gillott, CEO of KMR, commented: “The closing of this transaction marks a key milestone in our ambition to build a portfolio of state-of-the-art wind and solar projects across the European Union. We are fully committed to playing an active role in Europe’s energy transition.”
KMR, with headquarters in Baar (Switzerland), is an established player in the Italian renewable energy market with an existing portfolio of 277 MWp of early to mid-stage solar projects across Italy that are expected to achieve commercial operations within the next few years. The company acquires, develops, operates, and manages high-performance utility-scale solar PV and onshore wind renewable energy assets across Europe.
MET Group
MET Group is an integrated European energy company, headquartered in Switzerland, with activities and assets in natural gas and power markets. MET is present in 15 countries through subsidiaries, 30 national gas markets, and 39 international trading hubs. MET has extensive experience in operating green (renewable) and flexible (conventional) energy assets, thus providing the widest possible support to the energy transition. In 2023, MET Group’s consolidated sales revenue amounted to EUR 24.5 billion, with a total traded volume of natural gas amounting to 88 BCM and total traded electricity of 68 TWh.
Keppel
Keppel Ltd. (SGX:BN4) is a global asset manager and operator with strong expertise in sustainability-related solutions spanning the areas of infrastructure, real estate and connectivity. Headquartered in Singapore, Keppel operates in more than 20 countries worldwide, providing critical infrastructure and services for renewables, clean energy, decarbonisation, sustainable urban renewal and digital connectivity. Keppel creates value for investors and stakeholders through its quality investment platforms and diverse asset portfolios, including private funds and listed real estate and business trusts.
ReFeel New Energy
RNE, a solar PV and battery energy storage systems (BESS) platform set up in early 2022, is a joint venture between the SUSI Energy Transition Fund, a fund managed by Swiss-based energy transition investment specialist SUSI Partners, and a highly experienced local management team with a 15-year track record as founders and managers of clean energy company ReFeel. RNE is a leader in PV and BESS development in Northern and Central Italy, with over 380 MW of PV projects (including three that are ready to be built) and 870 MW of BESS projects in advanced stages of development.