KGAL has acquired a 21MW wind farm in Germany on behalf of Software AG Foundation (SAGST).
The Teschendorf wind farm, located in the district of Gifhorn in Lower Saxony and consisting of five Enercon E-138 wind turbines, was sold by project developer Energiequelle.
The investment expands the renewables portfolio of SAGST, a charitable foundation set up by German computer scientist Peter Schnell.
Markus Ziener, chief financial officer at SAGST, said: “The Teschendorf wind farm aligns perfectly with the Software AG Foundation’s long-term buy-and-hold philosophy. It is an excellent addition to the existing portfolio and, thanks to the EEG tariff, provides stable protection against electricity price fluctuations over a very long period.”
Konrad Lindner, portfolio manager at KGAL, said: “In the current market environment, German wind farms with EEG tariffs awarded in 2023 and 2024 rank among the most attractive core investments in Europe in terms of their risk-return profile. At Teschendorf, the awarded EEG tariff exceeds €70 per megawatt-hour, significantly more than the most recent EEG auction results of approximately EUR 55/MWh.”
To read the latest IPE Real Assets magazine click here.
