Keppel Infrastructure Trust (A7RU) said its unitholders have approved the proposed acquisition of an additional 39% interest in Keppel Merlimau Cogen Pte. Ltd. at an Extraordinary General Meeting held on Jun, 18 2026.

The sole ordinary resolution obtained 730.4 million votes in favour, representing 99.84% of the total votes cast, versus 1.16 million votes, or 0.16%, against.

Management told investors the gas-fired Keppel Merlimau Cogen plant, which has about 1,300 MW of licensed generation capacity and is hydrogen-compatible, will continue to operate under a capacity tolling agreement with Keppel Electric through 2040, insulating KIT from merchant power price and volume risk. Historical plant availability averaged roughly 98% over the past decade.

Chief Executive Officer Kevin Neo added that the trustee-manager does not plan to raise new equity or debt to fund the purchase, citing sufficient internal resources and stable cash flows from the asset. Maintenance and efficiency capital expenditure is expected to average “a few million” Singapore dollars annually, a small proportion of the plant’s revenue, and has been factored into the valuation.

The acquisition is projected to lift Keppel Infrastructure Trust’s pro-forma funds from operations by about 8% and distribution per unit by approximately 6%, although the trustee-manager intends to retain part of the additional distributable income for future investments.

With regulatory approvals and owner obligations factored into the transaction, the board and management said they expect the deal to support long-term, resilient cash flows for the trust. The meeting concluded at 4:25 p.m. local time.