KIT will hold a 50% stake in the SPV with the other 50% stake held by Equitix Investment Management and its co-investors. The SPV will acquire a 90% stake in Enpal’s solar portfolio with Enpal retaining the remaining 10% stake.
Keppel Infrastructure Trust (KIT) has announced that it will commit up to EUR109 million ($158.9 million) to acquire a 45% effective stake in a solar portfolio from German renewable energy company Enpal B.V.
KIT’s first solar investment in Enpal’s solar portfolio, AssetCos, through a special purpose vehicle (SPV) will double its renewable energy exposure to 22% of its assets under management (AUM), a significant step towards its 25% AUM target by 2030.
