ib vogt, a solar and energy storage project developer, announced the sale of the 110 MWp Pato solar project located in Segovia, Spain, to NextPower V ESG, a private solar infrastructure strategy managed by NextEnergy Capital.
The Pato solar project is equipped with bifacial solar panels and tracking mounts and is expected to generate approximately 215 GWh of renewable electricity per year. It also benefits from a long-term power purchase agreement with an industrial technology innovator.
In addition, the project is expected to be hybridized with a co-located battery energy storage system in the future, allowing for further access to available cash flows while supporting grid resilience and flexibility.
ib vogt will continue to provide operations, maintenance, and asset management services for the Pato solar project.
Augusta & Co. acted as exclusive financial advisor, with Herbert Smith Freehills Spain providing legal counsel to ib vogt, while Watson Farley Williams acted as the legal counsel for NextEnergy Capital on the transaction.
The solar project is part of a 513.1 MWp cluster developed by the company in Segovia, supporting Spain’s renewable electricity targets and climate neutrality goals.
“NPV ESG continues to deploy its capital at pace,” said Antonio Salvati, Managing Director at NextEnergy Capital, Head of NextPower V ESG. “We are delighted to conclude this transaction with ib vogt, which takes NPV ESG to an operational capacity of 226 MWp, further strengthening our position in the European renewable energy market. We continue to invest in the Iberian market through our Madrid and Seville offices. NextPower V expects to double the operational solar capacity in Europe over the next 12 months, driving energy security and affordability for the region.”
In January, ib vogt 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.
According to Mercom’s Q1 2025 Solar Funding and M&A report, about 13.6 GW of solar projects were acquired in Q1 2025 compared to 10.8 GW in Q1 2024.
