Funds advised and managed by KGAL Group (“KGAL”), a leading asset manager in Germany, announced today that they have entered into an agreement to acquire a majority stake in four photovoltaic plants, with a cumulated nominal power of 20 MWp, to be constructed by Langa SAS (“Langa”), a leading French renewable energy developer, EPC and operator. Langa will invest alongside KGAL Funds and will maintain a significant minority equity interest in all four PV plants.
Financial terms of the transaction were not disclosed. Three PV plants are being built in the area of Le Mans and another one is being constructed close to Toulouse.
As a leading asset manager in Germany, KGAL has more than 46 years of experience in making longterm real capital investments with sustainable and stable yields. KGAL provides investment management services for institutional investors, family offices and foundations in three real assetclasses – real estate, aviation and infrastructure (renewable energies). As of the 31st of December 2013, the KGAL Group managed an investment volume of €24.6bn.
Created in 2008, Langa is focused on photovoltaic, wind power and biomass. The company is structured around three main business activities: the development and financing of renewable energy plants, the procurement and construction of renewable energy plants, the operation of renewable energy assets and production of renewable energy.
“In just over six years, Langa has grown into one of the top five photovoltaic power producer in France in terms of cumulated nominal PV power approved in the calls for tender for large PV projects, which have been conducted since 2011 by the Commission de Régulation de l’Énergie (“CRE”). This investment by KGAL is a testimony to the professionalism and the quality of the Langa team. We are excited to work together with KGAL towards the successful delivery of the four PV plants as well as on further common projects in France and globally” said Gilles Lebreux, Founder and President of Langa.
Les conseillers du projet
KGAL was advised by Watson, Farley & Williams as legal counsel and tax advisor, and by Evergy Engineering GmbH as technical advisor.
Langa was advised by “Terre et Lac Conseil” as exclusive financial advisor and arranger, and by Lefèvre Pelletier & Associés as legal counsel and tax advisor.