Ib Vogt, a German solar developer, has agreed to sell its 98.4MW solar portfolio to Rubis Photosol, a French solar energy producer, for an unknown sum. The solar portfolio contains ten photovoltaic and agrivoltaic plants in Italy’s Lazio area. ib vogt solely funded the portfolio, then developed it along with two joint venture partners, Christoph Drewes Energieberatung and Hans Karl Pichler. When the projects reach the ready-to-build (RTB) phase, Rubis Photosol will acquire them one by one over the next 12-18 months.
With a combined capacity of 25 MW, two projects have already passed the RTB stage and were acquired in June 2023. It’s predicted that the remaining eight projects will become RTBs in 2024. Two of these have already secured permits for construction and six are in the advanced stages of development. Once they reach RTB status, they will be financed and developed by Rubis. Rubis expects to begin construction at the end of 2023, and all the projects are scheduled for commissioning between 2025 and 2026. The company will invest a maximum of €100 million, including the cost of land acquisition. Together, the ten projects will generate 150 GWh of clean electricity annually.
In May 2023, ERG Spain 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.
