KGAL enters Spanish solar JV

• Joint venture with Premier Group will 'gain an advantage' in tendering for grid capacities in a competitive market

KGAL is developing a joint venture with Spain's Premier Group for its KGAL ESPF 5 influence fund, complying with several years of collaboration in between the firms.

The Spanish partner is contributing its very own residential solar PV project pipeline to the joint venture for additional advancement as well as KGAL is to supply financial, operational and strategic assistance.

Spain is experiencing a solar boom. This schedules, in part, to excellent problems such as the highest possible irradiation levels in Europe and also large areas of readily available land. Furthermore, solar energy expenses have decreased in recent times. This advantageous market setting has actually brought about extreme competitors for grid connection capacities as well as the intro of grid capacity auctions.

KGAL and also Premier are currently signing up with forces to gain an advantage in tendering for grid capacities for solar parks. For the future, wind projects are also intended as part of the joint venture.

"With this joint venture, we are associated with the value chain from the extremely beginning and also can make use of all the opportunities offered by the attractive Spanish market.

"For KGAL ESPF 5, this means high return capacity," claimed Michael Ebner (pictured), Managing Director of Sustainable Infrastructure at KGAL Investment Management.

"Premier is our partner of choice, as we have been collaborating effectively and also with confidence considering that 2018".

KGAL has already cooperated with Premier Group on three large-scale PV projects in Spain with a complete capacity of 287MW.

Premier Group was founded in 2006 and has given that established an overall renewable resource capacity of greater than 3.4 GW from Brazil to Spain, Italy and Japan.