Keppel MET Renewables (KMR), a Swiss-based renewable energy investment platform, has reinforced its commitment to solar power by acquiring a 100% stake in two photovoltaic (PV) projects in the Italian regions of Piedmont and Lombardy.
Joint Venture
KMR is an equal joint venture between MET Group, an integrated energy company, and the Infrastructure Division of Keppel Ltd., a Singapore-based conglomerate.
The two solar plants have a combined installed capacity of 20 MWp and are expected to generate approximately 30 GWh of electricity per year, enough to power over 10,000 Italian households.
Project Development and Timeline
Both projects, developed by Italian clean energy company ReFeel New Energy (RNE), are ready for construction and are anticipated to begin commercial operations in 2025.
CEO Statement
“The completion of this transaction is a significant step towards our goal of establishing a portfolio of cutting-edge wind and solar projects across the European Union. We are dedicated to playing a pivotal role in Europe’s energy transition,” stated Luke Gillott, CEO of KMR.
Established Presence in Italy
KMR, headquartered in Baar, Switzerland, is already an established player in the Italian renewable energy market.
The company has an existing portfolio of 277 MWp of early to mid-stage solar projects throughout Italy, expected to be operational within the next few years.
European Focus
KMR specializes in acquiring, developing, operating, and managing high-performance utility-scale solar PV and onshore wind renewable energy assets across Europe. This latest acquisition further solidifies their presence in the region and their dedication to advancing sustainable energy solutions.