Business: Solar portfolio in Germany with combined generation capacity of 585 MW
Operating Partner: Enpal, one of the fastest growing energy company in Germany

The portfolio includes over 60,000 bundled solar photovoltaic (PV) systems (including systems under development) across Germany with a projected combined generation capacity of 585 MW. The bundled PV solutions are also projected to include more than 55,000 battery storage systems and more than 30,000 electric vehicle charging equipment.

These bundled solutions are leased to households under 20-year lease agreements and will provide highly predictable cash flows to KIT. Post-acquisition, the monitoring and maintenance of the PV systems will continue to be handled by Enpal under 20-year agreements with the AssetCos.

The acquisition of Enpal’s portfolio will take place in phases; the first four closings were completed by 26 Jul 2024 and comprise approximately 57,000 systems. A fifth close is expected in 4Q 2024.  Upon completion, KIT will hold a 45% effective stake in the solar portfolio.