Developer ib vogt signs multi-buyer VPPA for 174MW Spanish PV project

Facebook
Twitter
LinkedIn
Reddit
Email
The 180MWp Bienvenida project, which ib vogt completed in 2021. Image: ib vogt.

Solar PV developer ib vogt has signed a multi-buyer virtual power purchase agreement (VPPA) for its 174MW Serbal solar project in the Castilla y Léon region of Spain.

The deal is with American biotechnology company Thermo Fisher Scientific and testing laboratories company Eurofins Scientific. The former will acquire 91MW of capacity from the Serbal project to meet energy demand at over half of its European operations bases, whilst the latter will offtake 36MW annually. The remainder of the project capacity left unspoken for will be traded on the wholesale market.

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

The project is expected to begin commercial operations in early 2025. The company said that the project will deploy bifacial modules on a single-axis tracker-mounted system.

While ib vogt did not disclose the suppliers for either modules or trackers, it has previously had supply agreements with US-based tracker provider Nextracker for a 150MW project in Spain.

In July this year, ib vogt received a €350 million (US$377 million) investment from Spanish banking corporation Santander to support the development of its solar project pipeline. Specifically, ib vogt said that the money from Santander would go towards projects – like the Serbal PV plant – which it both develops and operates, rather than those it sells to third parties.

Anton Milner, CEO of ib vogt said: “More and more companies are utilising corporate PPAs to achieve their environmental sustainability goals and we are proud to provide the required capacity.”

Figures demonstrate that private corporate PPAs and VPPAs are on the rise in the solar sector. According to Bloomberg New Energy Finance 2022 was a record year for corporate power purchases, with some of the world’s largest and most recognisable companies topping the list of off-takers, including Amazon, Ford and Meta.

This particular deal with Thermo Fisher and Eurofins is notable for its multiple off-takers. In its announcement of the news, ib vogt claimed that “smaller and mid-size companies stand to profit from this technique, as it provides a more tangible way to reduce scope 2 and 3 emissions.”

Early this year, PV Tech spoke with renewable energy asset manager Glennmont Partners about the landscape for PPAs in Europe.

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.
2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

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
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. 
October 7, 2025
OpenSolar has secured US$13.1 million in equity financing from technology investors, including Titanium Ventures, Google and others.

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