Two years after the launch of the KGAL ESPF 5 impact fund, 85 per cent of the €334 million equity has already been allocated. The capital is spread across three investments in project developers, and 10 projects at various stages of development throughout Europe. The next grid connection for a 59 MW solar park in northern Germany is planned for the summer.

As the portfolio’s solar parks gradually reach construction phase, KGAL ESPF 5 is increasingly investing in wind energy. The Italian project developer Baltex Progetti, in which KGAL ESPF 5 holds a majority stake, has acquired two wind farms in northern Sardinia. They have a combined capacity of 140 MW and are at an advanced stage of development.

“Thanks to the strong performance of our previous investments, we were able to significantly exceed our original return expectations and raise the return target for KGAL ESPF 5,” explains Michael Ebner, Managing Director of KGAL Investment Management and responsible for Asset and Portfolio Management. “And it is just as important to us that, with our experienced infrastructure team, we can confidently manage the risks that may arise during project development and construction.”

You can now read the full press release at the link below