KGAL Investment Management has acquired a 25 percent stake in GP JOULE Projects for each of its funds KGAL ESPF 4 and KGAL ESPF 5.
The firms are joining forces to drive the energy transition, and to take advantage of what they see to be the growth opportunities offered by renewable energy in Germany and across Europe.
GP JOULE Projects is part of the GP JOULE Group, founded in 2009, and develops wind and solar energy projects along the full value chain: from securing the land and tendering of subcontractor services for construction to the overall business concept for the operation of the completed plant.
Michael Ebner (pictured), managing director of sustainable infrastructure at KGAL Investment Management said “When we acquired two wind farms in Schleswig-Holstein, we were impressed by the company’s professionalism and the attractiveness of its projects.
"Investing in GP JOULE Projects means we are now able to enter greenfield development with a comprehensive portfolio. Our KGAL ESPF 4 and KGAL ESPF 5 funds will therefore have even better opportunities for diversification and the potential to further enhance returns. In addition, projects from the pipeline may be considered for investment by our impact fund KGAL ESPF 5. For KGAL, this platform commitment represents a quantum leap."