IB Vogt Majority Stake In Singapore Firm

Germany’s IB Vogt GmbH Takes Over Majority Shares In Its Joint Venture NV Vogt Singapore To Focus On Serving Indian & Southeast Asian Markets
07:14 AM (Beijing Time) - 12. October 2018
ib vogt

Like several other international companies, Germany's EPC ib vogt GmbH sees potential in the Indian and Southeast Asian PV markets. By joining forces with its joint venture in Singapore, it plans to focus more on these markets. Pictured is the 54.5 MW Solarpark Scaldia in Netherlands by ib vogt. (Photo Credit: ib vogt GmbH)

Key Takeaways

  • Solar EPC company ib vogt GmbH has become a majority shareholder in its joint venture, nv vogt Singapore Pte. Ltd.
  • Formal acquisition process is scheduled to be completed in Q4/2018
  • This step will bring together the energies of two companies to help them focus on Indian and Southeast Asian markets

Berlin, Germany headquartered EPC firm ib vogt GmbH has acquired a majority stake in solar power development company, nv vogt Singapore Pte. Ltd. This will bring the activities of both the companies under one umbrella of ib vogt GmbH to help them bring the energies together to cater to the markets of India and Asia.

Founded in 2012, the formal acquisition of the joint venture nv vogt Singapore will be complete in Q4/2018 when it will be used as a development platform for Indian and Southeast Asian region.

Acknowledging the opportunity that Indian and Southeast Asian PV markets offer to the rest of the world, the two companies admit they are looking at the associated investment opportunities that these places offer. “We are very optimistic with regard to developments in these regions and intend to further expand our position in the future. The bundling of forces now initiated will help us to increase our market presence and access to investment opportunities,” said Anton Milner, CEO of ib vogt GmbH.

In January 2018, ib vogt secured around $5 million from the World Bank Group’s Multilateral Investment Guarantee Agency (MIGA) for its Egyptian PV projects (see $102.6 Million From MIGA For 250 MW Of PV In Egypt).

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani