Grünwald/Munich, 24.10.2024 – KGAL Investment Management has acquired three wind turbines near Perscheid, Rhineland-Palatinate. The wind farm is the first investment in an individual mandate, in which KGAL is advising the Software AG Foundation (SAGST). The wind farm, which is currently under construction, has a total capacity of 17.1 megawatts (MW) and is scheduled to go into operation in spring 2025. The seller is BayWa r.e.

Grünwald/Munich, 08/10/2024 – The PtX Development Fund1 for the promotion of hydrogen projects in developing and emerging economies has approved its first grant: Egypt Green Hydrogen (EGH) will receive €30 million for a hydrogen project in the Suez Canal Economic Zone (SCZone), the largest industrial cluster in Egypt. Prior to this, KGAL Investment Management GmbH & Co KG, the fund manager mandated by KfW, had intensively reviewed a total of 98 applications from seven countries. The contract was officially signed on 8 October at the Hamburg Sustainability Conference in the presence of Svenja Schulze, German Federal Minister for Economic Cooperation and Development (BMZ), Rania Al-Mashat, Egypt’s Minister of Planning, Economic Development and International Cooperation and Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources. The second round of applications is expected to start in winter 2024/25.

The KGAL ESPF 6 Energy Transition Fund is investing in a green hydrogen project at Lubmin, a Baltic Sea port in Mecklenburg-Western Pomerania, with a total capacity of up to 1,050 megawatts. This project is part of Germany’s largest planned centre for the production and import of green hydrogen, with Europe-wide significance. KGAL’s investment has excellent prospects, as the location offers immense strategic advantages and the project is being driven forward by experienced specialists. KGAL has partnered with project initiator PtX Development GmbH and project planner GP JOULE, the German green energy specialist.

The renewable energy fund KGAL ESPF 5 is investing in two further solar parks near Magdeburg, Calvörde West and Grauingen. The two plants complement the Calvörde Ost solar park acquired at the beginning of 2023, which will soon go into operation. The Calvörde cluster has a total capacity of 120 megawatts. KGAL has already secured attractive long-term feed-in tariffs for the majority of the capacity.

The independent investment and asset manager KGAL has acquired the ‘ViE’ office building in the Austrian capital with a total rental space of 14,100 square metres for one of its property funds. The seller is CA Immobilien Anlagen AG. The building in a central location in Vienna is fully let with renowned tenants. With this acquisition, KGAL is taking advantage of the attractive environment in the European office property market to make a high-quality purchase.