The first solar power generation facility is expected to reach the ready-to-build stage by the end of 2025. Credit: Chelsea on Unsplash.

German company KGAL Investment Management has acquired a significant stake in Polish project developer Lasuno for its KGAL ESPF 5 impact fund.

KGAL has also formed a joint venture (JV) with Lasuno to develop four solar parks with a total capacity of more than 200MW in the north and west of the country.

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The company noted three further sites that are suitable for the development of wind farms.

The first solar power generation facility is expected to reach the ready-to-build stage by the end of 2025, and the selected projects could be added to the KGAL ESPF 5 portfolio.

The project pipeline will be further expanded with the addition of new solar and wind projects.

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KGAL Investment Management managing director Michael Ebner stated: “KGAL has been active in Poland since 2019 because of the attractive framework conditions for renewable energy.

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“First, the potential returns in Poland are above average, and second, we can achieve a particularly large impact with our solar and wind power plants by replacing greenhouse gas-intensive electricity generation.”

KGAL ESPF 5 will be the major stakeholder in the JV, while Lasuno will be responsible for the development and management of the projects.

Wojciech Kawecki, founder and managing director of Lasuno, added: “With KGAL, we have found a financially strong partner that is already successfully driving similar joint ventures in the solar and wind sectors in several European countries.”