KGAL has acquired a majority stake in Italian solar and wind developer Baltex Progetti on behalf of its impact fund KGAL ESPF 5.
Baltex Progetti is planning solar parks in Sardinia and Sicily, as well as wind farms in Emilia Romagna. The first power plants are scheduled to be connected to the grid in 2026. During the operational phase, they will remain under the ownership of the developer, who will then act as an independent power producer. KGAL will help complete the developer’s 300-megawatt-capacity pipeline of projects and operate these as an independent power producer (IPP).
“For KGAL ESPF 5, holding a majority stake has the major advantage of securing access to a broadly diversified, promising project pipeline in the highly competitive renewables market via just one transaction,” said Michael Ebner, managing director and head of sustainable infrastructure at KGAL Investment Management. “Moreover, we will cover the entire value chain from the early developm
