Keppel partners AIIB for up to US$1.5 billion in Asia-Pacific green infrastructure deals
[SINGAPORE] Asset manager Keppel has partnered Asian Infrastructure Investment Bank (AIIB) to facilitate up to US$1.5 billion worth of sustainable infrastructure investments and financing opportunities in Asia-Pacific.
The tie-up will last for an initial five-year period up to December 2030, and focus on funding infrastructure projects developed by Keppel and invested by its private funds, the company announced on Wednesday (Jun 25).
The projects will advance green infrastructure, connectivity and technology-enabled infrastructure. Areas of interest include power transmission and distribution, renewable energy, transportation and urban services.
Asia-Pacific faces a 'significant infrastructure gap' due to the demands of a rapidly urbanising population, said Christina Tan, Keppel's chief executive for fund management.
She believes that the partnership will combine the AIIB's financial strength with Keppel's track record in large-scale infrastructure projects, highlighting that both have a 'longstanding relationship'.
Headquartered in Beijing, the AIIB is a multilateral development bank focused on developing Asia. It provides long-term capital through both debt and equity financing.
The partnership is not expected to have any material impact on Keppel's earnings per share for the current financial year.
Keppel shares ended Wednesday flat at S$7.40.
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