German EPC ib vogt has announced the sale and commencement of construction of a 180MWp solar farm near Badajoz in Spain, teeing itself up for a slew of other subsidy-free developments in Southern Europe.
The Bienvenida project – located in the Extremadura region of Spain, which has seen significant quantities of new solar farms enter planning – is to be acquired by European insurance giant Talanx Group.
Ib vogt has, meanwhile, established a long-term power purchase agreement for the project with Shell Energy Europe, which will see the utility acquire all power generated from the plant.
Berlin-headquartered ib vogt originally acquired the project in 2017, advancing it to shovel-ready status with a long-term offtaker attached. Ib vogt will now perform all operational contracts for the project, including delivery and ongoing operation.
The contract with Talanx does, however, include price hedging which ib vogt said balances price volatility whilst ensuring the company remains open to opportunities in Spain’s power market.
Thomas Mann, chief investment officer at Talanx, said Bienvenida represented an “excellent fit” for the company’s direction and strategy.
“The sheer size of the solar park allows us to better support the environmental transformation to a zero-carbon emission society – in this case by means of industrially generated green energy,” he added.
Ib vogt chief executive Anton Milner said Bienvenida is the first in a series of major grid-parity projects the EPC is delivering in Southern Europe.
Talanx Group is one of a number of solar investors, financiers and developers speaking at next month's Solar Finance & Investment conference, organised by PV Tech publisher Solar Media. The event is to be held between 5 - 6 February 2020 at the Victoria Park Place hotel in London. Tickets for the event are still available, more details on which can be found here.
Jun 15 - Jun 16, 2021
Looking at the drivers and dynamics of utility scale solar in the UK & Ireland over the next five years. This event will consider the immediate challenges as we enter the build phase in both these markets where we could see as much as 4GW deployed in 2021 alone! What developments will continue the growth of 100MW+ sites and what impact will government policy have on the rate of deployment in both markets?Join leading developers and manufacturers shaping the direction of one of Europe’s most active markets and hear from speakers with a history of influencing innovation and change.
Mar 09 - Mar 11, 2021
Understand fully the technical and logistical supply chains that determine the production and performance of solar modules, including all related factors impacting quality, reliability & bankability. This event will be run online with streamed content and online networking.
Feb 03 - Feb 04, 2021
The business of solar is changing, as the industry scales up, technology, IT and new players to the market will add complexity. This sparks a host of opportunities such as co-location of solar and storage and the rise of unsubsidised solar projects as well as challenges which will question the very business model of European solar asset owners. Solar Finance & Investment Europe is the meeting place for institutional investors, sovereign wealth funds, solar, wind and storage funds and large energy buyers to do business.