Proposed Investment in a Solar Portfolio in Germany
Key terms of proposed investment
Opportunity to invest in the competitive solar energy segment
KIT
KEPPEL
TRUST
INFRASTRUCTURE
Enpal
10%
50%
> 60,000 bundled
solar PV systems
JVCo
90%
equitix
50%
Key Terms
Seller
Purchase Consideration
Enterprise Value
Proposed Funding
Enpal GmbH, the largest provider of solar solutions to
residential homes in Germany
€109m (S$159m)¹
€733m (S$1.1b)¹
Expected Completion²
Internal sources of funds and/or external borrowings
First 53,500 systems: End-2023
Remaining 6,500 systems: By end-Jun 2024
1. Based on EUR/SGD of 1.465. Purchase consideration exclude acquisition and transaction costs.
2. To be completed in four phases: First close of 53,500 systems in end-2023; second close of 2,100 systems in 1Q 2024; third close of 4,400 systems in 2Q 2024; where
applicable, the fourth closing shall take place as an adjustment to meet the guaranteed internal rate of return by end-Jun 2024.
KIT
KEPPEL
INFRASTRUCTURE
4
TRUSTView entire presentation