OMNI Features｜Keppel Greenlights Construction of Its First $750m Hydrogen Power Plant in Singapore．Macquarie Moves 17 GW Green Portfolio to Energy And Climate Fund

(Source: Keppel)

｜Keppel Greenlights Construction of Its First $750m Hydrogen Power Plant in Singapore
Keppel Infrastructure is moving forward with its plan to build the first hydrogen-ready power plant in Singapore and has earmarked approximately $750 million for the project. The power plant will become operational in 2026.

The Keppel Sakra Cogen Plant, to be built in the Sakra sector of Jurong Island, will run initially on gas but will eventually shift to using fuels with 30% hydrogen content. The facility will also be able to run entirely on hydrogen and generate steam which can be used in industrial processes. The engineering, procurement, and construction contract to build the 600MW power plant was awarded to Mitsubishi Power Asia Pacific and Jurong Engineering.

Keppel Asia Infrastructure Fund LP and Keppel Energy are expected to hold 70% and 30% equity interests in the entity that operates the facility.

"When completed, this asset will grow Keppel's power generation portfolio from the current 1,300 MW to 1,900 MW, allowing us to capture a larger market share as the demand for reliable energy continues to rise with Singapore's economic development," said Cindy Lim, CEO of Keppel Infrastructure.

｜Macquarie Moves 17 GW Green Portfolio to Energy And Climate Fund
Macquarie Asset Management (MAM), part of Australia's Macquarie Group Ltd announced last week it has agreed for Macquarie Green Energy and Climate Opportunities Fund to acquire a portfolio of 6 investments developed by its Green Investments team.

The portfolio includes investments in 6 companies and projects, collectively representing over 17 GW of green energy capacity across various stages of development, construction, and operation. Assembled by Macquarie Asset Management's Green Investments team since 2018 through several transactions, the portfolio spans locations across the Americas, Asia-Pacific, and Europe. Included entities are Galehead Development, Treaty Oak Clean Energy, Aula Energy, Blueleaf Energy, Outer Dowsing, and Forliance. The 1.5-GW Outer Dowsing offshore wind project in the UK, which is located approximately 33 miles (54km) off the Lincolnshire coast, was developed by Macquarie's Corio, TotalEnergies SE, and Gulf Energy Developments is about to enter the examination stage after its Development Consent Order (DCO) application has been accepted by the Planning Inspectorate.

"Over several years, we have worked closely with specialist teams and partners across our platform to create, acquire, and grow a portfolio of companies and projects diversified across geographies, technologies, power markets, and development stages," commented Edward Northam, Head of Core Renewables at MAM Green Investments.

Reference: Singapore Business Review｜RenewablesNow