International solar developer Ib Vogt, in partnership with Santander Corporate & Investment Banking (Santander CIB), has successfully concluded a financing deal worth €350m.
The primary purpose of this agreement is to accelerate the development of projects intended for long-term ownership by Ib Vogt.
The company intends to use the newly acquired capital to fund the construction of projects from its own project pipeline, as well as to refinance existing credit facilities and expand their bonding lines. Ib Vogt’s ability to secure this agreement was made possible by leveraging its valuable project pipeline and proven track record.
This financing facility plays a crucial role in Ib Vogt’s strategic objective of owning and operating solar PV projects over the long term, which includes projects stemming from the company’s Development, EPC, and O&M activities.
By diversifying its portfolio, Ib Vogt aims to take advantage of future opportunities that add value, such as accessing new revenue streams, cross-selling, managing margin compression, and optimizing assets.
Anton Milner, Ib Vogt chief executive, said “As we continue to build out our project pipeline, this agreement will enable us to deliver high-quality, high-performance renewable energy assets to strengthen our own platform.”
“This not only benefits our business but also propels the much-needed energy transition by accelerating the buildout of clean energy resources.”
“We are thrilled to partner with Santander CIB, a reliable and capable financing partner who understands the economic and ecological significance of this agreement.”
“Our goal is to deploy this capital effectively and bring more renewable energy projects to life.”
Global head of structured finance at Santander CIB, Benoît Felix, said “Santander CIB is delighted to partner with Ib Vogt in delivering this new funding line, unlocking the next exciting phase of growth and development for this market-leading platform.”
“This underpins Santander’s ongoing commitment to green and sustainable financing.”
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