Singapore’s Keppel buys Shell’s 49% stake in Cleantech Solar for $200mn, plans to flip company for $400mn

New Delhi: Singapore’s Keppel Ltd has bought energy major Shell Plc’s 49% stake in pan-Asian solar developer Cleantech Solar in a deal valuing the equity at around $200 million taking full control of the company. It next plans a sale of Cleantech for around $400 million, said two people aware of the development. Both requested anonymity. Keppel already owns 51% stake in Cleantech. Keppel Corporation Ltd, Keppel Asia Infrastructure Fund LP (KAIF) and a co-investor of KAIF, through Cloud Alpha Pte Ltd, had a ...