ERG Spain, a subsidiary of energy company ERG, has agreed to buy Garnacha Solar, a 149 MW solar plant, from ib vogt’s subsidiary IBV Solar Parks. ERG stated that the transaction was valued at around €170 million, with an equity value of €80.5 million. By the third quarter of 2023, the transaction is anticipated to be completed. The 149 MW solar facility is being built in Castilla and León, in northwest Spain, and is currently at an advanced level of development.
The project is expected to commence commercial operation by the end of 2023. The Garnacha solar plant uses the latest-generation bifacial panels and tracker system, with an estimated total annual production of around 280 GWh. It is estimated that the solar plant will be able to offset nearly 136,000 tonnes of carbon dioxide emissions annually. Almost 70 per cent of the power generated from the plant will be sold under a 12-year pay-as-produced power purchase agreement (PPA) with a corporate organisation.
In February 2023, DIF Capital Partners and ib vogt agreed to purchase a 100 per cent share in a 720 MW solar and battery project portfolio in the UK. The portfolio would be purchased from Enso Green Holdings (EGHL), a Cero Generation and Enso Energy joint company with headquarters in the UK. It consists of seven project sites, with battery storage making up the remaining 340 MW of its 380 MW capacity.
