KGAL Investment Management said it has acquired a 60.5-megawatt peak (MWp) solar park in Spain’s Andalusia region on behalf of the Software AG Foundation (SAGST), strengthening the foundation’s investment in renewable energy infrastructure.
The “Gerena” solar park, located in the municipality of Guillena in the province of Seville, was developed by long-time KGAL partner BayWa r.e. and has been connected to the grid since June 2025. Approximately 70% of the project’s power output is covered under a ten-year Power Purchase Agreement (PPA) with a European industrial client, KGAL said.
“The portfolio is now diversified across locations, technologies, and offtake models. The projects are designed to generate stable cash flows with controlled risk,” said Konrad Lindner, portfolio manager at KGAL.
The transaction is the fourth equity investment under the SAGST mandate, which already includes three wind farms in Germany. It also completes the foundation’s first phase of its renewable investment strategy. “With the acquisition of ‘Gerena,’ we successfully complete the first stage of our investment strategy in the area of renewable energies,” said Markus Ziener, Managing Director at SAGST. “So far, we have invested a total of 150 million euros in related projects. We aim to realise additional projects totalling up to 100 million euros in the next development phase through SAGST Renewables GmbH.”
The Software AG Foundation, based in Darmstadt, is one of Germany’s largest non-profit foundations. Its investments are guided by self-imposed ESG principles and span a range of asset classes, including real estate, capital markets, and private equity. The foundation supports approximately 250 public interest projects each year, with a focus on human and social development across Europe.
