KGAL ESPF 5, an Article 9 impact fund, has entered the Czech market with the purchase of the 50-megawatt PVPP Saxonie solar project from Sev.en Inntech. Financial terms of the transaction were not disclosed.
This represents the 11th transaction for ESPF 5 in its sixth European country and its first solar park in the Czech Republic. The construction phase will begin shortly, and grid connection is planned for third quarter 2025. The electricity will mainly be marketed through a long-term power-purchase agreement.
Seller Sev.en Inntech operates the local power grid to which the solar park will be connected in 2025.
According to KGAL, the Czech Republic is developing into a highly attractive market for investors, with its climate targets having been increased several times. For example, the capacity of solar power is set to more than double from the current 3.6 gigawatts to 8 gigawatts by 2030, while the target for wind power is set to triple to 1.5 gigawatts. Anot
