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