Media Centre

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Singapore, 29 October 2025 – Keppel Ltd. (Keppel), through its Infrastructure Division, and ENGIE Energy Marketing Singapore (ENGIE) have signed a Memorandum of Understanding (MOU) to jointly advance the development of innovative energy solutions that accelerate Asia Pacific’s transition towards low-carbon energy systems. The MOU announced at the ASEAN-France Forum during Singapore International Energy Week, organised by the Energy Market Authority of Singapore (EMA).

 

Witnessed by H.E. Stephen Marchisio, Ambassador of France to Singapore, Mr Keith Tan, Deputy Secretary (Industry) and Deputy Secretary (Energy and Carbon), Ministry of Trade and Industry, Ms Cindy Lim, CEO of Keppel’s Infrastructure Division, and Mr Varun Gujral, Country Manager for Southeast Asia and CEO of Supply & Energy Management for Asia Pacific, ENGIE, the MOU was exchanged between Mr Guillaume Servajean, Chief Commercial Officer for Global LNG, Supply and Energy Management, ENGIE and Ms Janice Bong, Managing Director, Power & Renewables, Infrastructure, Keppel.

 

The Keppel-ENGIE collaboration is a step forward in fostering business-to-business cooperation in the energy sector, building on the momentum of the Comprehensive Strategic Partnership signed between Singapore and France in May 2025. The partnership will harness Keppel’s deep expertise in power, decarbonisation and energy transition solutions, and ENGIE’s global expertise in integrated low-carbon energy systems. Together, they aim to accelerate innovation and deliver scalable solutions that support Asia Pacific’s investment and adoption of sustainable energy, including in hard-to-abate sectors.

 

Under the MOU, Keppel and ENGIE will jointly explore opportunities in Singapore and across Asia Pacific, focusing on these key themes:

1. optimising energy systems and price risk management, and advancing low-carbon and renewable solutions;
2. expanding renewable power purchase agreements, storage and flexibility capabilities, and developing integrated and efficient energy solutions; and
3. fostering innovation, market development, and policy collaboration to accelerate the energy transition.

 

Ms Cindy Lim, CEO of Keppel’s Infrastructure Division, said, “Keppel is pleased to partner ENGIE in advancing the energy transition by developing and implementing robust, practical, and economically competitive solutions that benefit our customers in Asia Pacific. As an experienced asset manager and operator of real assets spanning energy, real estate, data centres and networks, Keppel has long been at the forefront of originating and delivering end-to-end solutions for commercial, industrial and retail customers. By combining Keppel’s deep operating know-how in the region with ENGIE’s global portfolio and expertise, this collaboration will unlock a powerful multiplier effect – accelerating the scale-up deployment of sustainable energy systems and enhancing energy resilience and cost competitiveness across the region.”

 

“ENGIE is delighted to partner with Keppel to accelerate the region’s energy transition through sustainable, integrated solutions. In the region, ENGIE leverages its global expertise in renewable energy, energy management, and local infrastructure to help clients decarbonise efficiently and responsibly. Together with Keppel’s infrastructure strengths, this relationship aims to develop practical and scalable pathways to achieve a low-carbon, resilient future,” said Varun Gujral, Country Manager for Southeast Asia and CEO of Supply & Energy Management for Asia Pacific, ENGIE.

 

“This collaboration between ENGIE and Keppel is a strong reflection of the partnership between France and Singapore in advancing sustainable energy solutions for the region,” said H.E. Stephen Marchisio, Ambassador of France to Singapore. “It demonstrates how cooperation between companies and shared innovation can accelerate the transition towards a low-carbon future, while strengthening the deep ties between our two countries.”

 

Keppel is helping to meet the growing demand for solutions that support the energy transition through various projects. These include leading a consortium that has been appointed by EMA and the Maritime and Port Authority of Singapore to conduct the front-end engineering and design study for a 55-65MW end-to-end ammonia power generation project on Jurong Island, as well as developing and operating the Keppel Sakra Cogen Plant, Singapore’s first hydrogen-compatible power plant. Keppel is also a pioneer in cross-border low-carbon electricity trade in ASEAN through the Laos-Thailand-Malaysia-Singapore Power Integration Project and was awarded a conditional approval and a conditional license to import up to 1.3GW of low-carbon electricity from Cambodia and Indonesia.

 

The abovementioned development is not expected to have any material impact on the net tangible asset per share or earnings per share of Keppel for the current financial year.

 

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About Keppel

 

Keppel Ltd. (SGX:BN4) is a global asset manager and operator with strong expertise in sustainability-related solutions spanning the areas of infrastructure, real estate and connectivity. Headquartered in Singapore, Keppel operates in more than 20 countries worldwide, providing critical infrastructure and services for renewables, clean energy, decarbonisation, sustainable urban renewal and digital connectivity. Keppel creates value for investors and stakeholders through its quality investment platforms and diverse asset portfolios, including private funds and listed real estate and business trusts.

 

About ENGIE

 

ENGIE is a major player in the energy transition, whose purpose is to accelerate the transition towards a carbon-neutral economy. With 98,000 employees in 30 countries, the Group covers the entire energy value chain, from production to infrastructures and sales. ENGIE combines complementary activities: renewable electricity and green gas production, flexibility assets (notably batteries), gas and electricity transmission and distribution networks, local energy infrastructures (heating and cooling networks) and the supply of energy to individuals, local authorities and businesses. Every year, ENGIE invests more than €10 billion to drive forward the energy transition and achieve its net-zero carbon goal by 2045. Turnover in 2024: €73.8 billion. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, Euronext 100, FTSE Euro 100, MSCI Europe) and non-financial indices (DJSI World, Euronext Vigeo Eiris - Europe 120 / France 20, MSCI EMU ESG screened, MSCI EUROPE ESG Universal Select, Stoxx Europe 600 ESG-X).

 

In Southeast Asia, ENGIE is a fast-growing team of more than 2,000 employees, operating across Singapore, Malaysia, and the Philippines. We deliver integrated low-carbon energy solutions — from energy performance services, district cooling, onsite solar, and EV charging, to large-scale renewable projects and energy management solutions. Through our presence across the entire energy value chain, we help clients decarbonise their operations today, for a better tomorrow.

 

For more information, please contact:

For ENGIE

Ms Zann Chua

Regional Head of Marketing & Communications

Tel: (65) 91555600

Email: zann.chua@engie.com

 

For Keppel

Media

Ms Ianna Chia

Deputy Manager

Corporate Communications 
Tel: (65) 6413 6434
Email: ianna.chia@keppel.com

 

Investor Relations

Ms Tang Yibing

Senior Manager

Corporate Communications

Tel: (65) 6413 6474

Email: yibing.tang@keppel.com