Keppel Infrastructure Trust (A7RU) said on May, 4 2026 that its trustee-manager, Keppel Infrastructure Fund Management, has signed a sale-and-purchase agreement to buy a further 39% interest in Keppel Merlimau Cogen (KMC) from KCIF Investments for up to 128.1 million Singapore dollars in cash.

Following completion, KIT’s ownership in the 1,300-MW combined-cycle gas turbine plant on Jurong Island will rise from 51% to 90%, while Keppel Energy will retain the remaining 10%.

The consideration comprises a base price of about 120.9 million Singapore dollars—allocated 106.3 million Singapore dollars to a shareholder loan and 14.7 million Singapore dollars to equity—plus a ticking fee of up to 7.2 million Singapore dollars, subject to adjustments.

The transaction is classified as an interested-person deal and will be funded through internal resources and/or external borrowings. It is conditional on unitholder approval and regulatory clearance, with completion targeted within eight business days after the last condition is met, but no later than Sep, 30 2026.

KIT said the acquisition is expected to be accretive, adding about 8% to pro forma funds from operations and 6% to distribution per unit for FY2025.