Ib vogt lands EUR135m institutional financing to seek multi-gigawatt pipe

• Ib vogt has closed a EUR135 million (US$ 160 million) dedication from an institutional financier to aid it seek an international pipe of solar projects that surpasses 16GW.

The Germany-headquartered EPC has actually closed on the commitment by funds managed by EIG Global Energy Partners, money which ib vogt stated would aid it realise its pipe over the coming years.

Anton Milner, chief executive at ib vogt, defined the investment as an essential landmark for the firm and also one that stood to "substantially underpin and also boost" its rapid development, while supplying the firm extra flexibility in pursuing its pipeline of projects.

"This investment is indicative of the broad opportunities EIG sees in sustainable investing as well as is consistent with EIG's historical financial investment design," R. Blair Thomas, chief executive at EIG, said.

Jean-Daniel Borgeaud, managing director and also head of power and renewables at EIG, likewise applauded ib vogt's company design.

"The fully‐integrated business model also enables expertise across development, style & design, financing, procedure, maintenance and also monitoring of solar power plants and offers a special degree of control and also exposure to cash flows throughout the complete project cycle," he claimed.

Information of the financial investment happens 2 months after reports first surfaced that the firm had actually been placed up to buy. In mid-July Reuters reported that DVV, ib vogt's owner, worked with investment financial institution Marathon Capital to help with the sale procedure, disseminating information packs to pick financiers in June.