Keppel Infra Trust, Jinko Power tie up to explore solar farm, energy storage investments

KEPPEL Infrastructure Trust ’s (KIT) trustee-manager on Monday (Jun 13) said that it has tied up with Jinko Power (HK) Company to explore investment opportunities in energy storage and solar farms.

Jinko Power (HK) Company is the international investment platform of Shanghai-listed Jinko Power Technology, a renewable energy supplier and service provider.

Both parties have inked a non-binding memorandum of understanding (MOU). Under its terms, Jinko will identify up to 1,000 megawatt of solar farm and energy storage projects from its pipeline of assets which KIT can potentially invest in.

Each of these assets will be in jurisdictions that meet KIT’s investment criteria, in key developed markets of Asia-Pacific, Europe and the Middle East, the trustee-manager said in a press statement.

KIT and Jinko will potentially enter into separate investment agreements to acquire and hold the respective assets through special purpose vehicles.

Jopy Chiang, chief executive of the trustee-manager, said KIT intends to increase its exposure to renewable energy by up to 25 per cent of KIT’s equity-adjusted assets under management by 2030.

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The trustee-manager does not expect the MOU to have any material financial impact on KIT’s distribution per unit for the financial year ending Dec 31, 2022.

KIT closed 0.9 per cent or S$0.005 higher at S$0.57 on Monday.