Swiss-based renewable energy investment platform Keppel MET Renewables has acquired a 100% stake in a 38MWp solar development project in Apulia, Italy.
Keppel MET Renewables (KMR) is an equal joint venture between Swiss-based MET Group and Singapore-based Keppel.
The project in Southern Italy is in an early stage of development and is expected to reach ready-to-build status during 2025 and start commercial operations in 2026.
KMR is an established player in the Italian renewable energy market with an existing portfolio of more than 200MWp of early to mid-stage solar projects across southern Italy that are expected to achieve commercial operations within the next few years.
Chairman and chief executive of MET Group Benjamin Lakatos said: “This is one more step towards MET Group’s determined goal of achieving a 2GW installed capacity renewable portfolio by 2026, and we expect many more to come.
“We are targeting further growth of wind and solar projects across the European Union, acquiring assets along the whole value chain: greenfield investments, ready-to-build projects, as well as brownfield investments.”
Managing director for projects, supply chain & HSSE, infrastructure division at Keppel Tan Boon Leng added: “Keppel is pleased that KMR is expanding its geographical presence in Europe, accelerating the growth of its renewable energy portfolio, and contributing towards advancing Europe’s energy transition.
“The completion of KMR’s latest acquisition is another step forward in expanding its presence in Western Europe’s burgeoning renewables sector, which includes other interesting markets such as France, Germany, Portugal and Spain.”
KMR is developing and constructing a geographically and technologically diversified portfolio of operating and ready-to-build PV and onshore wind renewable energy assets, playing an active role in the European energy transition.