Ib vogt faucets triad of institutional investors to accelerate IPP approach pivot

Dec 23, 2021 10:40 AM ET
  • Solar designer ib vogt has safeguarded as much as EUR270 million in financing to aid it remain to pivot in the direction of a build-own-operate approach for a gigawatt-scale portfolio of solar assets.
Ib vogt faucets triad of institutional investors to accelerate IPP approach pivot
Image: ib vogt

The designer, which earlier this year marketed a bulk stake to fund manager DIF, has touched a trio of institutional investors for a financing center originally covered at EUR120 million (US$ 135.8 million), however this can be expanded as much as EUR270 million through an accordion mechanism.

BAE Systems Pension Funds, SCOR Investment Partners as well as BNP Paribas Asset Management will give the center, with UniCredit Bank AG acting as sole bookrunner and also financial consultant.

The facility was described by ib vogt as an "important element" in facilitating a tweak to its technique, enabling the company to build an independent power manufacturer (IPP) platform that possesses and runs both solar PV and also battery energy storage projects from its very own advancement and also EPC activities.

Ib vogt said this diversity would certainly supply it additional value-adding chances, such as further income streams, cross marketing and asset optimization possibility.

The gigawatt-scale portfolio to be pushed right into the IPP design is to contain projects from ib vogt's existing development pipe, with projects split throughout OECD countries such as France, Italy, Spain, the UK and Ireland, Poland, Hungary as well as Canada.

The business additionally added that the pipeline contains a few of the biggest solar projects to have actually been developed in a variety of the countries provided, with most projects at the shovel-ready stage and others currently unfinished.

"We expect solid advantages and synergies in between the present business emphasis as well as the IPP organization extension, not the very least because we have the ability to assure a high-grade, high-performance supply of projects into our IPP tasks-- that has at times been a difficulty for IPP drivers sourcing projects on the surface," Anton Milner, chief executive officer at ib vogt, claimed.

Ib vogt first motioned in the direction of an IPP technique upon selling a 51% stake in the business to DIF Capital Partners in October of this year, while a EUR40 million funding from Commerzbank, authorized earlier this month, is to aid sustain development worldwide.

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