KGAL further invests in large-scale PV in southern European countries

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The German investment holding firm, KGAL Group has announced it aims to further develop its PV power plant portfolio, with a special focus on the solar markets of Spain, Portugal and Europe.

This renewed interested in solar in these southern European countries, in which the firm has already been active over the past years, comes together with the commitment to further acquire large-scale wind projects in Scandinavia, and make further acquisitions in the hydropower segment.

“We have recalibrated our strategy, consolidating our leading market position in renewables in selected countries,” said the spokesman of the board of KGAL Investment Management GmbH & Co. KG, Michael Ebner. The company did not reveal any more details, however.

Its latest deal in the PV sector was closed in January, when the investment firm acquired two operational solar plants totaling 18 MW in France from local developer, Solairedirect, which is a unit of France-based energy giant Engie. This operation raised the capacity of the PV plants owned by KGAL in France to 110 MW.

Overall, the group has invested around €1.2 billion since it entered the PV market in 2005. KGAL currently owns and operates 61 solar facilities with a combined capacity of around 384 MW in in Germany, Spain, Italy, France and the U.K.

Interest in southern European solar markets, particularly in Italy, Spain and Portugal, meanwhile, has increased considerably over the past months, as several large-scale projects designed for the private PPA segment or the spot market have been announced or started.