SINGAPORE (THE BUSINESS TIMES) – Keppel Corp and Keppel Infrastructure Trust (KIT) will jointly commit €160 million (S$226 million) to secure a 33.33 per cent stake in a joint investment vehicle, FundCo, which will co-invest in a European onshore wind energy portfolio, Keppel and KIT’s manager said on Wednesday (July 13).

The geothermal value-chain is as diverse as the many services it provides. Signatories to the letter range from utilities providing heating and cooling services alongside power generation, multinational energy service companies, the financial sector and project developers.

The federal government auctioned off 762 square miles of Atlantic Ocean real estate last week for future offshore wind farms. Most of the businesses willing to pay very high prices are based in Europe, continuing a dominance by foreign energy giants. One American bidder said he hopes the U.S. government changes the way the auctions are conducted.