Keppel MET Renewables (KMR), a Swiss-based renewable energy investment platform, announces the acquisition of two photovoltaic projects in the Italian regions of Piedmont and Lombardy.
These projects, developed by the Italian company ReFeel New Energy (RNE), add a total installed capacity of 20 MWp and an estimated annual production of 30 GWh, enough to supply more than 10,000 Italian households.
KMR and its commitment to solar energy
KMR CEO Luke Gillott says the acquisition marks an important step in the company’s strategy to develop a portfolio of state-of-the-art wind and solar projects across the European Union.
“We are fully committed to playing an active role in Europe’s energy transition,” he says.
Based in Baar, Switzerland, KMR is already a major player in the Italian renewable energy market, with an existing portfolio of 277 MWp of solar projects in various stages of development.
The company focuses on the acquisition, development, operation and management of large-scale renewable assets across Europe.
Strategic partnership and expansion
This acquisition is part of a 50/50 joint venture between MET Group and Keppel Ltd. aimed at strengthening their presence in the renewable energies sector.
MET Group, an integrated European energy company, is active in the natural gas and electricity markets in 15 countries.
In 2023, MET Group achieved consolidated sales of 24.5 billion euros, with a total volume of natural gas traded of 88 BCM and electricity traded of 68 TWh. Singapore-based Keppel Ltd. is a global asset manager operating in over 20 countries, with expertise in sustainability solutions, including infrastructure and clean energy.
The company creates value for its investors through quality management and a diversified portfolio of assets, including private funds and listed real estate trusts.
Future prospects for Italian projects
The construction-ready solar projects acquired by KMR are scheduled to begin commercial operations in 2025.
ReFeel New Energy (RNE), the company that developed these projects, is a platform specializing in the development of photovoltaic and battery energy storage systems.
RNE, in partnership with the SUSI Energy Transition Fund, has over 380 MW of photovoltaic projects and 870 MW of energy storage projects under development in Northern and Central Italy.
The acquisition of these projects is in line with KMR’s strategy of developing high-performance solar and wind assets in Europe.
KMR’s expansion into the Italian renewable energy market illustrates the growing opportunities in this sector, supported by favorable policies and a growing demand for clean energy.
With a strong presence in Italy and an expanding portfolio, KMR is well positioned to play a major role in Europe’s renewable energy landscape.
This acquisition, while strengthening KMR’s market position, also highlights the dynamics of the renewable energy sector in Europe, where companies continue to grow and invest in sustainable projects.
