The renewable energy fund, KGAL ESPF 5, has sold the Italian solar park, Spalletti, with a capacity of 16 MW.
The buyer is the Italian energy company, Altea Green Power.
The solar park is located in the Emilia-Romagna region near Parma and commenced operations in early 2024. The facility was built on a reclaimed former gravel and sand extraction site and benefits from a government-backed feed-in tariff. KGAL acquired the project in 2021 at ready-to-build stage and oversaw its development through to operational status.
With this sale, KGAL continues its active portfolio management strategy within the ESPF 5 fund and creates new reinvestment opportunities. At the same time, the transaction confirms the implementation of the buy-build-sell strategy pursued since 2020. The proceeds from the sale are intended to be reinvested into further acquisitions for the fund portfolio.
Patrick Villmann, Transaction Manager Sustainable Infrastructure at KGAL, noted: “Even in a challenging market environment, transaction opportunities for high-quality infrastructure assets continue to exist.”
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