Renewable energy fund KGAL ESPF 5 is investing in two further solar parks near Magdeburg, Germany, with a combined capacity of 60MW.
The 40MW Calvörde West and 20MW Grauingen arrays further enhance the KGAL ESPF 5 portfolio, the fund said.
The company has already secured attractive long-term feed-in tariffs for the majority of the capacity, it added.
Both projects are scheduled to go into operation in autumn 2025 and are expected to generate predictable yields.
The two plants complement the 60MW Calvörde Ost solar park acquired at the beginning of 2023, which will soon go into operation.
The Calvörde Ost array still has free generation capacity not covered by the EEG auction.
KGAL said it will shortly participate in the Federal Network Agency’s innovation tender for utility-scale solar power plants with battery storage.