KGAL Investment Management, investing on behalf of the Software AG Foundation (SAGST) has acquired three wind turbines near Perscheid, in the Rhineland-Palatinate region of Germany from BayWa re for an undisclosed sum.
The wind farm is the first investment deal on behalf of an individual mandate with a volume in the “hundreds of millions of euros awarded” to KGAL by SAGST, KGAL said.
The independent development foundation from Darmstadt has consistently focused its investments on sustainability, and plans to expand the proportion of direct investments in renewable energies.
The wind farm, which is currently under construction, has a total capacity of 17.1MW and is scheduled to go into operation in spring 2025.
The three Nordex wind turbines, each with an output of 5.7MW, are located 33km south of Koblenz in the Rhein-Hunsrück district.
Konrad Lindner, portfolio manager at KGAL, said: “Germany is a very attractive location for onshore wind investments.
“Due to the stable legal framework, the robust wind resource and good feed-in tariffs, projects of this type offer interesting investment opportunities, which we are seizing on behalf of our investor.”
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