KGAL concludes power purchase agreement with Shell for solar PV park near Magdeburg
Calvörde Ost has been feeding green electricity into the grid since autumn 2024. “With the PPA, we have now reached another important milestone,” says Katrin Werner, Head of Performance Management at KGAL. “We are securing attractive long-term cash flows for our investors.” The solar park is expected to generate almost 60,000 megawatt hours of green […]
Calvörde Ost has been feeding green electricity into the grid since autumn 2024. “With the PPA, we have now reached another important milestone,” says Katrin Werner, Head of Performance Management at KGAL. “We are securing attractive long-term cash flows for our investors.”
The solar park is expected to generate almost 60,000 megawatt hours of green electricity per year. This will supply around 29,000 households and avoid 39,000 tonnes of CO2 emissions.
Due to excellent cooperation with the project developer on Calvörde Ost, KGAL has further expanded its local involvement and also invested in the Calvörde West (40 MW) and Grauingen (20 MW) solar parks. Their grid connection is planned for autumn 2025.
Successful fund strategy The Calvörde Cluster is a prime example of the core-plus investment approach of the KGAL ESPF 5 impact fund, which was launched in 2021 and targets double-digit returns, focusing on investments right from the development phase. To date, the fund has exceeded its ambitious return target.
KGAL was legally advised by LPA on the transaction.
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