Neutral
Informational - no clear directional impact
Low Impact
Minor progress or informational
Gulf Energy Development’s wholly owned subsidiary Gulf International Holding Pte. Ltd. agreed to divest 50% of its shares in Borkum Riffgrund 2 Investor Holding GmbH, which owns 50% of the Borkum Riffgrund 2 Offshore Wind Farm, to Neptune1 Infrastructure Holdings Pte. Ltd., a joint venture of Keppel Infrastructure Trust and Keppel Renewable Investments, for EUR 305 million. Following the deal, Gulf International Holding retains 49.99% of Borkum Riffgrund 2 Investor Holding (equivalent to a 25% indirect stake in the wind farm), while Neptune1 acquires the other 50.01% of the holding company, corresponding to an indirect 25% stake in the project; completion is subject to customary regulatory approvals and was expected in the fourth quarter of 2022.