KGAL GmbH & Co. KG has successfully placed its current renewable energy fund. European Sustainable Power Fund 2 (ESPF 2), which offers institutional investors a diversified portfolio of wind and solar power, achieved the maximum equity capital volume of EUR 500 million as early as May 2012 and has therefore been closed.
With 50% borrowed capital, the fund has up to EUR 1 billion at its disposal to invest in suitable facilities. After 18 months, EUR 626 million has already been invested. The main focus is on wind power. The objective is for this to account for around two-thirds of the target portfolio, with solar energy ac-counting for the rest. In terms of location, the primary focus of ESPF 2 is on wind power at German and French on-shore facilities. With regard to solar energy, KGAL is looking to sunny Italy and Spain.
“We are delighted that the planned equity capital volume for ESPF 2 has been achieved so quickly”, says KGAL Managing Director Gert Waltenbauer. “The fact that numerous renowned insurance companies, municipal utilities and pension funds, but also family offices, foundations and a leading European research institution are participating in our fund confirms our belief that renewable energies are becoming increasingly important.”
