Ib Vogt turns sod on 150MW Spanish solar
- Garnacha project has a PPA with Google for a period of 12 years as well as will certainly begin procedure in October 2023
Ib Vogt has actually begun building and construction of a 150MW solar plant situated in the province of Zamora in Spain.
The Garnacha project has a power purchase agreement (PPA) with Google for a duration of 12 years, which is the initial partnership in between Ib Vogt and Google.
With a EUR90m long-term project funding facility offered by Norddeutsche Landesbank Girozentrale (NORD/LB) as well as Santander Corporate & Investment Banking (Santander CIB), financial close was gotten to on 25 August 2022.
Construction of the plant is anticipated to continue via 2023 with commercial operation prepared by October 2023.
Ib Vogt's overall investment in the project is EUR118m.
The nuclear power plant is part of the company's IPP platform.
The Garnacha project is located near the city of Toro in the north-west of Spain as well as will certainly support the area's shift towards clean power.
It covers a location of 224 hectares of land on incredibly low-quality soil and also will include greater than 270,000 photovoltaic panels improved north-south single-axis trackers for ideal efficiency.
" We are pleased to have begun for yet an additional major project in Spain, adding in the direction of the nation's own renewable electrical energy targets as well as doing our part to power the power change," said Anton Milner, CEO of Ib Vogt.
" We are likewise delighted to be interacting with Google and also contributing to their important environmental purposes. Thanks to the outstanding support of the regional, local, and also nationwide administrative bodies and also our companions at NORD/LB and Santander CIB, we were able to pursue an aggressive project advancement as well as financing timeline as well as anticipate including more clean solar power to the Spanish power market."
Along with establishing the project, Ib Vogt is providing an end-to-end solution as EPC contractor as well as, upon completion of the plant, it will certainly offer procedures and upkeep and also possession administration solutions as well.