Solar developer ib vogt has sold a 110MW solar PV plant in Spain to international fund NextPower V ESG, which is operated by investment firm NextEnergy Capital (NEC).
Located in Segovia, in the central region of Castile and León, the Pato solar PV project is part of a larger solar cluster developed by ib vogt that combines 513MW of solar PV.
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A long-term power purchase agreement has already been secured with an undisclosed industrial technology “innovator”, according to the company. Last year, ib vogt secured an offtake agreement with US tech company Apple for a 134MW PV plant, also located in Segovia.
The plant comprises bifacial solar panels with tracking mounts for enhanced efficiency and generation, according to the companies. The solar developer will continue supporting the project by providing operations and maintenance (O&M) as well as asset management services.
Moreover, it has also integrated environmental sustainability into the project’s design with two newly created ponds supporting amphibians and local wildlife, among others.
In the coming years, the Pato project is expected to be co-located with battery energy storage systems (BESS).
Antonio Salvati, Managing Director at NextEnergy Capital, Head of NextPower V ESG, said: “We are delighted to conclude this transaction with ib vogt, which takes NPV ESG to an operational capacity of 226 MWp, further strengthening our position in the European renewable energy market.
“NextPower V expects to double the operational solar capacity in Europe over the next 12 months, driving energy security and affordability for the region.”
In related news, Chinese solar manufacturer JinkoSolar supplied its module to a portfolio of projects from ib vogt in the central region of Castille and León, of which the Pato solar PV plant is a part of.
Through the agreement between both companies, JinkoSolar supplied its n-type TOPCon Tiger Neo modules for a 513MW solar PV cluster. The project comprises four utility-scale solar PV plants and spans across nearly 666 hectares.
The solar developer closed a debt financing for three of the projects from the solar cluster in February 2024. Through a nearly €350 million debt financing, led by financing company Norddeutsche Landesbank -Girozentrale – (NORD/LB), Santander CIB and BBVA, it helped support the development of the 174MW Serbal project, the 134MW Castaño project and the 100MW Pato project.
