ib vogt, a solar and energy storage project developer, announced an agreement to sell a solar and storage project portfolio to Faria Renewables, a Greece-based renewable energy project developer backed by Omnes Capital’s Capenergie 5 fund and the Faria Group. The portfolio comprises around 780 MWp solar projects and battery energy storage systems, which are in various stages of development.
One of the projects is a 45 MWp solar project currently under construction. It recently secured financing from a Greek bank and is expected to complete construction in the second half of 2025. The project comprises three distinct sites in the municipality of Almyros, Greece, totaling 45 MWp.
“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. “I would like to thank everyone involved in this transaction for their outstanding effort and support, allowing us to further achieve our goal of powering the energy transition.”
Akereos Capital served as the sole and exclusive sell-side advisor to ib vogt. Watson Farley & Williams and Statera provided legal advice, and TÜV AUSTRIA Hellas provided technical advice on the transaction.
According to Mercom’s 9M and Q3 2024 Solar Funding and M&A report, there were 166 project acquisitions totaling 28.3 GW in 9M 2024 compared to the same number of project acquisitions totaling 31.6 GW in 9M 2023.
In September 2024, ib vogt announced the sale of its 110 MW Pato solar project in Spain to NextPower V ESG, an OECD Fund of NextEnergy Capital. Construction of the solar project began in March 2024. The site uses bifacial tracking solar panels and is part of several projects under construction by ib vogt totaling 513 MWp in the Spanish province of Segovia.
