KGAL Investment Management has launched its first renewable energy Impact Fund, KGAL ESPF 5.
KGAL ESPF 5 will invest in renewable energy generation through photovoltaics, onshore and offshore wind power, and hydropower. The firm will also consider investments in other renewable-energy generation and storage technologies, as well as grid infrastructure. The vehicle will follow a core-plus investment strategy.
KGAL ESPF 5 was launched following strong performance of its predecessor fund, KGAL ESPF 4, which closed at the end of 2019 with €750 million ($879 million) in equity commitments. The firm said its deal pipeline remains robust, with more than 90 percent of the predecessor fund’s capital already contractually committed.
“The European investment market for renewable power generation offers immense growth and diversification potential,” said Michael Ebner, managing director and head of sustainable infrastructure at KGAL. “We entered this space in 2003