KGAL's Solar Success: Spalletti Farm Powers Up Italy
- KGAL GmbH & Co KG connects 17-MW solar farm in Italy, with more projects on the way. Investing in renewables for a brighter future.
German investment and asset manager KGAL GmbH & Co KG has connected a 17-MW solar farm called Spalletti in northern Italy, which will sell electricity under a 20-year feed-in tariff. This project is the first asset that KGAL ESPF 5 has progressed from development to grid connection, with more solar farms totaling 100 MW expected to come online this year. The fund has allocated 85% of its EUR 334 million equity in two years and plans to close the final fund in the third quarter of 2024.
In addition to solar power, KGAL ESPF 5 also invests in wind power through a majority stake in Italian renewables developer Baltex Progetti. The developer has acquired two wind projects totaling 140 MW in northern Sardinia. KGAL Investment Management's Managing Director, Michael Ebner, noted that the fund has exceeded return expectations and raised the return target for KGAL ESPF 5 due to the strong performance of previous investments.
What renewable energy projects has KGAL ESPF 5 invested in recently?
- Spalletti, a 17-MW solar farm in northern Italy
- Two wind projects totaling 140 MW in northern Sardinia through Baltex Progetti
- More solar farms totaling 100 MW expected to come online this year
