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Astris Finance Advises KGAL On Successful Sale Of Renewable Energy Portfolio

Hamburg, Germany - Renewable energy projects are becoming increasingly important in the finance industry. This is also demonstrated by the sale of a large renewable energy portfolio by KGAL to an Italian power producer.

The German investment and asset manager was assisted by Astris Finance in the sale of the comprehensive wind and solar portfolio with a capacity of 152.4 megawatts (MW) in Germany and France. The wind and solar portfolio was managed by KGAL on behalf of a German professional pension fund and acquired in an M&A process from ERG, a listed IPP from Italy, through its subsidiaries ERG Windpark Beteiligungs GmbH and ERG Eolienne France SAS.

The portfolio includes five wind farms with a capacity of 55.1 MW in Germany and three wind farms and seven solar farms with a capacity of 40.6 MW and 56.7 MW, respectively, in France. The projects were commissioned between 2012 and 2017 and receive a feed-in tariff with an average expiry date of 203. The estimated total annual production is 273 million kilowatt hours, which is roughly equivalent to 150,000 tons of avoided CO2 emissions per year.

The portfolio was part of a single account managed by KGAL on behalf of a German professional pension fund. "We are pleased to have achieved a very attractive return for our investor with this transaction, due to our active portfolio and asset management, which included several optimisations in the portfolio during the holding period”," said Michael Ebner, Managing Director and Head of Sustainable Infrastructure at KGAL Investment Management. "Asset divestment is becoming an increasingly important part of KGAL's investment strategy as we focus on an active buy-build-sell approach in our current funds", Ebner continued.

"We are very pleased we advised KGAL in connection with the disposal of a scarce and sizeable renewable energy portfolio in Germany and France and to have successfully closed our first mandate in Germany since the opening of our Hamburg office in March 2021," added Theoharis Saroglou, Director of Astris's Hamburg office.

Astris Finance acted as exclusive sell-side financial advisor to KGAL and involved Astris teams both in Hamburg and Paris.

About Astris Finances

Astris Finance has extensive 20-year expertise in the infrastructure and energy sectors. Headquartered in Washington, D.C., the company has offices in Mexico, Bogotá and São Paulo in North and South America; Paris, Madrid and Hamburg in Europe; and Singapore and Ho Chi Minh City in Asia. Astris is currently working as the mandated financial advisor on a pipeline of deals across Europe, the Americas, Africa, and Asia, representing an aggregate investment in excess of USD 12 billion in a variety of sectors including renewable and clean conventional energy, transportation, environmental services, telecommunications and social infrastructure.

Source: IWR Online, 24 Nov 2021