KGAL ESPF 4 closes at EUR750 million

KGAL Group, through GAL Investment Management GmbH & Co. KG has successfully closed its KGAL ESPF 4 renewable energies fund on 30 September 2019, with equity commitments totaling EUR750 million (US$836.95 million).

The fund has already allocated EUR280 million (US$312.46 million) of equity for projects in six countries. KGAL ESPF 4 held its first closing in mid-2017 and acquired its first project in mid-2018.

Asset manager KGAL had originally intended to close the fund at the end of 2018, with an equity target of EUR500 million (US$557.970 million).

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.