KGAL affect fund acquires first solar challenge in Czechia
KGAL’s most up to the moment green vitality fund is buying its first solar asset in Czechia. The investment and asset supervisor says the 50 MW plant is due to of place to the grid in 2025.
Patrick Jowett
Image: Sev.en Inntech
German asset supervisor KGAL talked about its KGAL ESPF 5 affect fund has purchased a deliberate 50 MW solar challenge in Czechia.
The PVPP Saxonie challenge shall be built near the metropolis of Most, near the German border. The construction piece will open at the moment, with Prague-essentially based mostly developer Micronix responsible as the engineering, procurement and construction contractor. The electricity will essentially be marketed through an extended-interval of time vitality purchase agreement.
The vendor of the challenge is Sev.en Inntech, a Czech company that also operates the local vitality grid that the solar park shall be linked to next yr.
The acquisition is the KGAL ESPF 5 affect fund’s first step into the Czech solar market. It’s a ways its 11th transaction in entire, because it already has a presence in Germany, Greece, Italy, Poland and Spain.
Florian Martin, co-CEO of KGA, talked about that more than 80% of the fund’s €350 million ($389.3 million) in equity has already been disbursed, with 43% deployed. “Our merchants get web entry to to an entire of more than 200 projects – an unprecedented diversification with substantial doable for the impending years,” added Martin.
The fourth spherical of KGAL ESPF modified into executed closing yr across 33 European wind and solar parks.
Czechia establish in 484 MW of solar in the first half of of this yr, nearly matching the 487 MW added in the first six months of 2023.
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