Asia Digest: Keppel Infra inks MoU with Jinko Power; Eke Panuku, NZ Super Fund in pact

Photo: Mint

Keppel Infrastructure Fund Management has signed an MoU with Jinko Power (HK) Company Limited while New Zealand Superannuation Fund (NZ Super Fund) and Eke Panuku Development Auckland have formed an investment partnership.

Keppel Infra signs MoU with Jinko Power

Keppel Infrastructure Fund Management Pte Ltd (KIFM), as trustee-manager of Keppel Infrastructure Trust (KIT), has signed a non-binding memorandum of understanding with Jinko Power (HK) Company Limited to explore solar farm and energy storage investment opportunities.

Under the terms of the MoU, Jinko will identify up to 1,000 MW of solar farm and energy storage projects from its high-quality pipeline of assets that KIT can potentially invest in.

Each of these assets will be in jurisdictions that meet KIT’s investment criteria, including the key developed markets of Asia-Pacific, Europe and the Middle-East. KIT and Jinko will likely enter into separate investment agreements to acquire and hold the assets through special purpose vehicles.

Headquartered in Shanghai, Jinko Power is a leading independent solar power producer with about 3 GW of installed capacity and 18,000 GWh of cumulative power generation in China.

“This forms a foundational pillar of KIT’s Energy Transition portfolio, and is a strategic focus of our ESG commitment to support communities by contributing to decarbonisation and providing greener energy sources,” said KIFM CEO Jopy Chiang.

KIT is a diversified business trust listed on the Singapore Exchange with approximately S$4.5 billion in assets under management as of 31 March 2022.

Eke Panuku, NZ Super Fund ink investment tie-up

New Zealand Superannuation Fund (NZ Super Fund) and Eke Panuku Development Auckland have formed an investment partnership to accelerate and improve the regeneration of town centres in Tāmaki Makaurau, according to an announcement.

The partnership is focused on development opportunities in Eke Panuku strategic priority locations (as set by Auckland Council), such as Northcote and Panmure.

Each project will be considered on a case-by-case basis with NZ Super Fund investments made in line with its commercial mandate. The control and approval of urban development outcomes will remain with the Auckland Council, with local boards, mana whenua and communities fully engaged in the projects.

“We see a commercial opportunity in large-scale (>$100 million), climate-friendly property investments and Eke Panuku is an ideal partner for us,” said NZ Super Fund CEO Matt Whineray.

The NZ Super Fund is a global investment fund that was established by the New Zealand government to help pre-fund universal superannuation in the country.

In recent years, the NZ Super Fund has built a substantial portfolio of New Zealand property investments, including a series of partnerships with local developers such as Russell Group, Classic Group and Ngāi Tahu Property.

The Crown-owned investment fund, which invests on behalf of taxpayers to help pre-fund universal superannuation, has more than $8 billion invested in New Zealand and is looking to increase its exposure to domestic real estate and infrastructure.

Eke Panuku Development Auckland is a council-controlled organisation established to deliver urban regeneration in Auckland.

 

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