KGAL's renewable-energy fund, KGAL ESPF 4, has commissioned Tuscania, the largest privately financed solar park in Italy, in the country’s Lazio region.
With a total capacity of 148 megawatts, Tuscania will generate around 240 gigawatt-hours of electricity per year and avoid around 100,000 tonnes of carbon dioxide emissions annually. More than 272,000 solar modules from the manufacturer JA Solar were installed throughout an area equivalent to more than 250 football fields.
The core-plus KGAL ESPF 4 was launched in 2017 and has invested €1.3 billion ($1.34 billion) in wind, solar PV and hydropower across Europe. When it comes to Tuscania, KGAL ESPF 4 investors will receive attractive, predictable cash flows via a fixed power-purchase agreement (PPA) with the Italian utility Edison for a period of 10 years from commissioning. The financing partners on the debt side are Natixis and ING.
“A project of this size always presents major challenges. The biggest of
