KGAL invests in 60MW of solar parks in Germany

Renewable energy fund KGAL ESPF 5 is investing in two further solar parks near Magdeburg, Germany, with a combined capacity of 60MW.

The 40MW Calvörde West and 20MW Grauingen further enhance the KGAL ESPF 5 portfolio, the fund said. 

KGAL has already secured attractive long-term feed-in tariffs for the majority of the capacity, it added.

Both photovoltaic project developments are scheduled to go into operation in autumn 2025 and are expected to generate predictable yields.

The two plants complement the 60MW Calvörde Ost solar park acquired at the beginning of 2023, which will soon go into operation.

The Calvörde Ost solar park still has free generation capacity that is not covered by the EEG auction.

KGAL said it will shortly participate in the Federal Network Agency's innovation tender for utility-scale solar power plants with battery storage.