German asset supervisor KGAL mentioned the KGAL ESPF 5 impression fund has bought a deliberate 50 MW photo voltaic mission within the Czech Republic.
The PVPP Saxonie mission might be constructed close to the town of Most, near the German border. The building section will start quickly, with Prague-based developer Micronix accountable because the engineering, procurement and building contractor. Electricity is normally offered by way of a long-term energy buy settlement.
The vendor of the mission is Sev.en Inntech, a Czech firm that additionally operates the native energy grid might be linked to the photo voltaic park subsequent yr.
The acquisition is the KGAL ESPF 5 impression fund’s first step within the Czech photo voltaic market. This is the eleventh transaction in complete, because it has a presence in Germany, Greece, Italy, Poland and Spain.
Florian Martin, co-CEO of KGA, mentioned that greater than 80% of the funding’s €350 million ($389.3 million) in fairness has already been allotted, with 43% deployed. “Our buyers have entry to a complete of greater than 200 initiatives – an unprecedented diversification with nice potential for the approaching years,” added Martin.
The fourth section of the KGAL ESPF was accomplished final yr in 33 European wind and photo voltaic parks.
Czechia put in 484 MW of photo voltaic within the first half of this yr, roughly equal to the 487 MW added within the first six months of 2023.
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