KGAL enters solar JV with Polish developer Lasuno
Transactions - MAY 10, 2023

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KGAL enters solar JV with Polish developer Lasuno

by Kali Persall

KGAL Investment Management is forming a joint venture with Polish project developer Lasuno to develop four large solar parks with a total capacity of more than 200 megawatts in Poland.

The solar projects are in the early stages of development in the north and west of the country and are expected to reach ready-to-build (RTB) status by the end of 2025. Three of the sites are also suitable for wind farms, and the pipeline is expected to be expanded to include these in the coming years.

KGAL ESPF 5, a core-plus SFDR Article 9 impact fund, will hold a majority stake in the joint venture, and Lasuno will be responsible for the development and management of the projects. KGAL ESPF 5 focuses primarily on an active build-and-sell strategy. It invests primarily in wind power and photovoltaics across Europe and seeks to add other renewable energy generation and storage technologies, as well as grid infrastructure. The joint venture with Lasuno is KGAL ESPF 5’s fourth platform

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