M&A WATCH- Ib Vogt sells one of its Benban plants to Masdar, looks to offload three more: Germany solar company Ib Vogt has sold its entire share in its 64.1 MWp PV plant in the Benban solar park to Abu Dhabi-based renewable energy company Masdar, it said in a statement. The company did not disclose the value of the transaction or the reason for the sale. The two companies also signed letters of intent for Masdar to buy Ib Vogt’s shareholdings in three more Benban plants with a combined capacity of 166.5 MWp. In the meantime, Ib vogt will continue to provide operation and maintenance services for its 230 MWp portfolio in Benban. The German company had jointly developed, built, and operated the plant together with its partner Infinity Energy, which wasone of only two projects that qualified for the first phase of the Feed-in Tariff program back in 2018.

Tags: