KGAL Investment Management has signed long-term power purchase agreements (PPAs) with Lafarge Cement Polska for two onshore wind farms in Poland.
The two wind farms — known as Krasin and Rywald — will supply Lafarge with about 230 gigawatt hours of green electricity per year. The two wind farms belong to the KGAL ESPF 4 renewable energy fund, which closed in 2019 with €750 million ($824 million) of equity commitments. KGAL ESPF 4 invests predominantly in wind, solar and hydroelectric power in Europe. It is also able to invest in additional technologies relating to renewable energy and storage, as well as network infrastructure.
The 35-megawatt Krasin wind farm, which was acquired by KGAL ESPF 4 in May 2020 as a development project, has been generating green electricity since the end of 2022. With 27 megawatts of capacity, Rywald entered the portfolio in spring 2021 during the project-development phase. This wind farm is now in the test phase and is expected to st