KGAL Investment Management’s fifth European renewable energy fund has sold Italian solar park Spalletti to local energy company Altea Green Power.
KGAL ESPF 5 has sold the 16MW solar park near Parma, in Italy’s Emilia-Romagna region, for an undisclosed sum. The asset originally commenced operations in early 2024.
KGAL, which acquired the project at the shovel-ready stage in 2021 and managed its development through to commissioning, said that the divestment was in line with its active portfolio management strategy for ESPF 5 and frees up capital for new reinvestment opportunities.
“At the same time, the transaction confirms the successful implementation of the buy-build-sell strategy pursued since 2020,” the manager added.
Patrick Villmann, transaction manager sustainable infrastructure at KGAL, said: “Even in a challenging market environment, transaction opportunities for high-quality infrastructure assets continue to exist.”
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