Keppel takes full control of CRA with Shell stake buy

The company said it aims to grow its renewables business.

Keppel Limited, along with Keppel Asia Infrastructure Fund and a co-investor, have acquired the remaining 49% stake in Cleantech Renewable Assets (CRA) from Shell Singapore.

Post completion, Keppel said it aims to grow its renewables business and expand its footprint as a global asset manager and operator.

Headquartered in Singapore, CRA is a solar energy platform focused on the commercial and industrial (C&I) segment, with assets across India and Southeast Asia.

The transaction mentioned above is not expected to have any material impact on the earnings per share and net tangible assets per share of Keppel for the current financial year.

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