Independent investment and asset manager KGAL GmbH & Co KG announced that its KGAL ESPF 5 fund has acquired an 18.6-MW wind farm currently under construction in Rhineland-Palatinate, southwestern Germany. The acquisition was made from BayWa AG, a diversified group, though financial details were not disclosed.
Located in Reichenbach, around 35 km northwest of Kaiserslautern, the wind farm will feature three Vestas Wind Systems turbines, each with a capacity of 6.2 MW. The project is expected to begin feeding electricity into the grid in November, further enhancing Germany's renewable energy capacity.
“This investment strengthens the technological diversification of the KGAL ESPF 5 portfolio, ensuring stable long-term returns for our investors,” said Jonathan May, Head of Institutional Business International at KGAL.
The purchase marks the 13th acquisition for KGAL ESPF 5, following its recent acquisition of two solar projects in Sachsen-Anhalt totaling 60 MW. The fund now holds renewable energy projects with a combined capacity of 1.1 GW across six European countries.
KGAL plans to make additional investments in Germany and the Czech Republic for its impact fund, which is expected to reach its final close by the end of the month.
