KGAL has concluded a 10-year power purchase agreement (PPA) with Shell Energy Europe for its 60-megawatt Calvörde Ost solar park near Magdeburg, Germany. Under the agreement, Shell will purchase the entire electricity production of the project.
KGAL acquired Calvörde Ost at an early stage for the KGAL ESPF 5 renewable energy fund in 2023 and brought it through development and construction to grid connection. Calvörde Ost has been feeding green electricity into the grid since fall 2024. The solar park is expected to generate nearly 60,000 megawatt hours of green electricity per year. This will supply about 29,000 households and avoid 39,000 tonnes of carbon-dioxide emissions.
“With the PPA, we have now reached another important milestone,” said Katrin Werner, head of performance management at KGAL. “We are securing attractive long-term cash flows for our investors.”
In partnership with the project developer, KGAL has further expanded its local involvem
