116MWp ib vogt solar farm begins construction following financial close

Facebook
Twitter
LinkedIn
Reddit
Email
The Benban solar project in Egypt, one of ib vogt's developments. Image: ib vogt.

Senior debt financing has been secured for the 116MWp Coara Marang solar farm being developed by Germany-headquartered ib vogt and Malaysian solar firm Coara Solar.

This finance comes in the form of a senior debt facility from Malayan Banking Berhad, with the project having also signed a 21-year Power Purchase Agreement (PPA) with Malaysian electricity utility Tenaga Nasional Berhad.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Construction on Coara Marang has now begun, with the solar farm – which is to use bifacial technology mounted on single-axis trackers – set to deliver circa 230GWh of clean energy a year once operational in Q1 2022.

It was developed under the third round of the Large Scale Solar scheme issued by the Energy Commission of Malaysia in February 2019. The tender was specifically for 500MWac of grid-connected large-scale solar projects to be developed on Peninsular Malaysia and was designed to help support ambitions to increase the country’s renewable energy mix from 2% to 20% by 2025.

Anton Milner, managing director of ib vogt, described Malaysia as a “market with huge potential for renewable energy”, with ib vogt being “dedicated” to supporting the country’s renewable energy targets by “delivering this important project as planned during these challenging times”.

Ib vogt is currently pursuing a global pipeline of solar projects that exceeds 16GW, announcing last year it had closed a €135 million (US$160 million) commitment from funds managed by EIG Global Energy Partners to help it pursue this.

The year also saw the company sell its shareholding in its 64.1MWp ‘Infinity 50’ project, which makes up part of the Benban solar complex in Egypt, to Masdar.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
24 March 2026
Lisbon, Portugal
Returning for its 14th edition, Large Scale Solar Europe is the essential meeting point for solar leaders across Europe. The event brings together developers, IPPs, investors, and policymakers to address critical challenges and accelerate solar’s pivotal role in achieving Europe’s Net Zero by 2050 goals.

Read Next

October 8, 2025
Officials from Norway and Egypt have agreed provisional terms for the financing of the Dandara solar park in Egypt, which is being built and operated by Norwegian IPP Scatec.
October 8, 2025
Saatvik Green Energy has secured new solar PV module orders worth more than INR7 billion (US$84 million), to be delivered in this financial year.
October 8, 2025
Australia's NEM achieved a new minimum operational demand record of 9,666MW, marking a 4% decrease from the previous record.
October 8, 2025
Frontier Energy plans to expand its Waroona Renewable Energy Project into a renewable energy precinct by 2031, targeting up to 1GW solar.
October 7, 2025
Econergy will acquire 100% stake in the 155MW Ratesti solar project in Romania, further expanding its European renewable energy portfolio.
October 7, 2025
Juniper Green Energy through its subsidiary Juniper Green Sigma Eight has signed a 70MW power purchase agreement with renewable energy giant Tata Power. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK