ib vogt has announced divestment of its Greek solar and BESS portfolio
This comprises around 780 MW of assets at various stages of development
The buyer, Faria Renewables is a JV between Capenergie 5 Fund & Faria Group
Germany-headquartered global renewable energy developer ib vogt is selling its around 780 MW strong solar PV and battery energy storage system (BESS) portfolio in Greece to renewables independent power producer (IPP) and developer Faria Renewables, for an undisclosed amount.
The 780 MW ib vogt portfolio also includes a 45 MW solar farm currently under construction. Financed by a local Greek bank, the project is scheduled to be completed in H2 2025. It will be spread across 3 municipality of Almyros. Rest of the assets are in various stages of development.
“We are pleased to deliver this portfolio to Faria Renewables and support them in their positioning as a key player in Greece’s renewable energy sector. It allows us to strengthen focus on our European core markets and international expansion in the coming years,” said Anton Milner, CEO of ib vogt.
Omnes Capital’s Capenergie 5 Fund and the Faria Group backed Faria Renewables were launched in July 2023 as their joint venture (JV) to build over 1.5 GW renewables capacity in Greece over the next 4 to 6 years and also explore green hydrogen and offshore wind (see New Renewables Platform In Greece).
The current renewable energy portfolio of Faria Renewables comprises 3.5 GW of assets under development across Greece.
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