Grünwald near Munich, July 22, 2025 – KGAL Investment Management has acquired a solar park in Andalusia in southern Spain on behalf of the Software AG Foundation (SAGST). The plant with a capacity of 60.5 megawatt peak (MWp) has been feeding electricity into the public grid since June 2025. The project was developed by long-standing KGAL partner BayWa r.e. The transaction marks another milestone in the expansion of the foundation's sustainable infrastructure portfolio.
The "Gerena" solar park is located in the municipality of Guillena in the province of Seville and was built on former agricultural land. The proceeds for around 70 percent of the electricity production are contractually secured by a ten-year Power Purchase Agreement (PPA) with a European industrial company.
"The portfolio is now diversified across locations, technologies and marketing models. The projects are designed to generate stable cash flows with controlled risk," says Konrad Lindner, Portfolio Manager at KGAL. The SAGST individual mandate comprises four equity investments: three wind farms in Germany and the newly added solar park in Spain.
Markus Ziener, Member of the Executive Board for Asset Management at SAGST, explains: "With the acquisition of 'Gerena', we are successfully completing the first expansion stage of our investment strategy in the field of renewable energies. So far, we have contributed a total of 150 million euros to corresponding projects. We are aiming to realize projects totaling up to 100 million euros in the next development phase through SAGST Renewables GmbH. KGAL remains our partner in selecting projects that meet our requirements in terms of impact, intrinsic value and sustainability."
The Software AG Foundation , based in Darmstadt, is one of the largest charitable foundations in Germany. Its assets – built up through the entrepreneurial success of IT pioneer Peter Schnell – are positioned across various asset classes and consistently invested according to self-defined ESG criteria, including real estate, capital markets and company investments.
For more than 30 years, the foundation has been using the proceeds to support around 250 projects for the common good for the development of people and society – with a focus on Germany and Europe. In 2024, it founded SAGST Renewables GmbH to build up investments in the renewable energy sector.
