KGAL signs a share purchase agreement for two wind development projects – KGAL has signed an agreement with Norwegian project developer Norsk Vind AS for the construction and technical management of Faurefjellet and Skorveheia Wind Farms. Both wind farms will be acquired for the KGAL ESPF 4 renewable energy fund, which invests mainly in wind, solar and hydroelectric power in Europe.
Norsk Vind AS will construct Faurefjellet and Skorveheia Wind Farms and will be responsible for the long-term technical management of the farms. With construction due to start in August 2020 and commissioning scheduled for the end of 2021, the wind farms will have a total installed capacity of up to 117 MW.
KGAL ESPF 4 invests predominantly in wind, solar and hydroelectric power in Europe. It is also able to invest in additional technologies relating to renewable energy and storage, as well as network infrastructure. KGAL is pursuing a core-plus strategy, which combines greenfield and brownfield investments in a targeted manner. KGAL Investment Management GmbH & Co. KG closed the renewable energies fund on 30 September 2019, with equity commitments totalling €750 million.