International renewable energy development platform, ib vogt, has signed an agreement to sell its portfolio of Greek projects to Faria Renewables, a company backed by Omnes Capital's Capenergie 5 fund and the Faria Group.
According to a statement, the portfolio consists of approximately 780 MWp of PV and storage systems in various stages of development, including a 45 MWp PV farm currently under construction.
THE PLANT
This project in Almyros, Magnesia, included in the deal, recently secured financing from a major Greek bank and is expected to complete construction in the second half of 2025.
The annual electricity generated by the solar plant will equal the average consumption of more than 17,000 households, offsetting up to 25,000 metric tons of CO2 emissions.
TIPS
On the deal, Anton Milner, CEO of ib vogt, said among other things that the company will focus on key European markets and international expansion in the coming years.
Akereos Capital acted as ib vogt's sole and exclusive M&A sales advisor. In addition, Watson Farley & Williams and Statera provided legal advice, while TÜV AUSTRIA Hellas provided technical advice.
DATA ib vogt 2023
- Revenue: €646.5 million.
- Investment: €646.5 million.
- PV (installed & under construction): 4.70 GWp
- PV pipeline: 55 GWp
- IPP projects up to 2026: 7 GWp
- BESS projects up to 2026: 20 GWp
INVESTMENT €27 MILLION
Regarding Faria Renewables, based in Thessaloniki, which has a portfolio of RES under development of over 3,500 MWp, announced last summer an investment of €27 million for the acquisition of a 35 MWp PV plant in Central Greece. It will be developed on 100% privately owned land and is expected to produce 52.5 GWh of clean energy per year, which will power 13,125 households in the areas of Domokos and Farsala.
DATA Faria Renewables 2024
PV: 2 GWp
Wind: 1 GWp
BESS projects: >300 MWp
