Keppel to acquire a 50.01% stake in Borkum Riffgrund 2 from Gulf Energy Development for $314m.

Keppel, a Singaporean conglomerate, agreed to acquire a 50.01% stake in Borkum Riffgrund 2, an offshore wind farm, from Gulf Energy Development, an energy company, for $314m. “The demand for renewable energy is expected to intensify as the world journeys towards its net zero goal. We are pleased to strengthen our partnership with best-in-class partners such as Gulf and Ørsted through this transaction, and look forward to future collaboration opportunities. This transaction is aligned with Keppel’s Vision 2030, which see renewables, clean energy and decarbonisation solutions playing increasingly integral roles as we make sustainability our business. It also demonstrates how we can harness the Group’s eco-system and business networks to source for and capture opportunities to scale up in our focus areas and grow recurring income,” Loh Chin Hua, Keppel CEO.