Proposed Investment in a Solar Portfolio in Germany
Deepen renewables exposure with first solar portfolio investment
Attractive portfolio backed by 20-year lease contracts with German households
■
■ To acquire a 45% stake in a German solar portfolio comprising > 60,000 bundled solar photovoltaic (PV) systems,
including > 55,000 battery storage systems and > 30,000 EV charging equipment, backed by 20-year contracts
■ Jointly acquiring with Equitix, a global infrastructure developer and fund manager, and their co-investors
Monitoring and maintenance of assets within the portfolio will continue to be handled by Enpal
Assets under Management
$8.4b
Up by 15.1% from
$7.3b in FY 2022
Renewables Exposure
1.3GW
Up from 740MW¹
1. Includes the proposed investment in Fäbodliden II which is expected to be completed in 4Q 2023.
2. Based on the first closing of 53,500 systems which is expected in end-2023.
3. Based on conversion factor of 349 gCO2/KWh per IEA emissions factors.
Accretive investment
2.0%2
Based on 3.82 cents proforma
for FY 2022
Carbon emissions avoidance
115k tonnes³
per annum
KIT
KEPPEL
INFRASTRUCTURE
3
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