KGAL finds buyer for 31MW of Spanish subsidy-era PV

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Solar panels in Andalusia, Spain. Source: Wikimedia Commons

German investment and asset manager KGAL GmbH & Co. KG will sell 31MW of Spanish PV before the year’s end.

The firm sold two plants with 10MW capacity in July to an undisclosed Spanish fund, with plans to transfer a further three to the same buyer over the coming months. All five projects are in the central Spanish region of Castila-La Mancha.

The German fund purchased the plants between 2007 and 2011, before the Spanish government retroactively nixed feed-in tariffs and impaired PV plants’ potential revenue.

Michael Ebner, KGAL’s managing director of infrastructure, said that the company cinched an “attractive return for investors” despite the subsidy slash, thanks to active asset management and careful timing.

KGAL said in a news release that it remains intent on becoming a PV market leader in Spain, Portugal and Italy regardless of the sale.

Read Next

March 4, 2021
A round-up of the latest solar project news from around the world, including updates from Hanwha Q CELLS and Capital Dynamics.
March 3, 2021
Iberdrola is progressing with efforts to develop three solar farms in Spain’s Valencia region that will have a combined capacity of 450MW and require an investment of more than €235 million (US$284 million).
March 2, 2021
Spain should limit the size of new solar parks to encourage the deployment of smaller projects located closer to consumers, the country’s National Association of Photovoltaic Energy Producers (ANPIER) has said.
March 1, 2021
Endesa, through its Enel Green Power España subsidiary (EGPE), has started construction work on four PV projects in Spain that will have a combined capacity of 180MW and cost €125 million (US$150 million) to develop.
February 26, 2021
Spanish developer Solarpack has updated its guidance to have between 1.8GW and 2GW of solar in operation and under construction by 2023.
February 26, 2021
EDP will focus on North America to ramp up its solar capacity in the next five years as part of a new strategic update that will see the Portuguese utility target more than 50GW of renewables additions by 2030.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
March 9, 2021
Solar Media Events
March 17, 2021
Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021
Get 50% off!
Subscribe before 5th of April 2020!