KGAL has sold the 130MW Bäckhammar Wind Farm in Sweden, around six years after acquiring the project through its KGAL ESPF 4 fund. The wind farm comprises 31 turbines and has been acquired by Aneo, a Norwegian developer and operator of renewable energy facilities.
KGAL managed the project from development through to construction, grid connection, and commercial operation. Bäckhammar has been generating electricity since late 2020, with most of the output supplied under a 10-year power purchase agreement with a technology company based in the USA.
Since 2017, KGAL has followed a “Buy, Build, Sell” strategy. Its ESPF 4 and ESPF 5 funds have jointly invested over €1.5 billion in renewable energy assets. The company plans to launch a new fund in the ESPF series, which will also include investments in battery storage and grid infrastructure alongside power generation.
