KGAL has acquired the Teschendorf wind farm for Software AG – Stiftung (SAGST). The seller is the project developer Energiequelle. This acquisition serves to expand the renewable energy sector within the foundation's portfolio. The Teschendorf wind farm is located in the Gifhorn district in Lower Saxony and comprises five Enercon E 138 wind turbines.
The turbines are scheduled to commence operation in autumn 2025. The grid connection had already been realised in advance. Thanks to the Renewable Energy Act (EEG), a 20-year feed-in tariff is secured for the wind farm, based on the provisions of the EEG 2023. This acquisition underscores KGAL's strategic focus on substantial investments in the sustainable infrastructure segment.
Markus Ziener, Board Member for Assets and Finance at SAGST, explained that the Teschendorf wind farm aligns with the foundation's long-term buy-and-hold philosophy. He sees the acquisition as a valuable addition to the existing portfolio. Furthermore, the EEG tariff offers stable hedging against electricity price fluctuations over an extended period.
Konrad Lindner, Portfolio Manager at KGAL, stated that German wind farms with EEG tariffs from 2023/2024 are among the most attractive core investments in Europe in the current market environment. This particularly applies to the risk-return profile. In the case of Teschendorf, the EEG premium of over EUR 70 per megawatt hour is significantly above the most recent EEG tender values, which were approximately EUR 55/MWh.
Software AG – Stiftung, based in Darmstadt, is one of Germany's largest non-profit foundations. The foundation's assets, based on the entrepreneurial success of Peter Schnell, are diversified across various asset classes and consistently aligned with its self-defined ESG criteria. An increasing proportion of the foundation's assets is specifically invested in renewable energy projects, thereby making an active contribution to the energy transition. KGAL acts in this regard as a specialised investment and asset manager for Sustainable Infrastructure and supports SAGST in implementing this strategy.
