On Tuesday, Netherlands-based, global private infrastructure investor DIF Capital Partners announced that it will buy a 51 percent stake in ib vogt, a major global developer in utility-scale PV solar energy, headquartered in Berlin, Germany. The seller is ib vogt’s current 100 percent shareholder, family-owned holding company DVV, and DIF is making the transaction through its sixth Infrastructure Fund. Price and other deal terms were not disclosed.
ib vogt has built (or is in the process of building) more than 2.2 GWp of solar energy to date, not including its project development pipeline of more than 40 MWp. The company is present in more than 40 countries, operates 27 offices in Europe, North America, Asia-Pacific and Africa, and is active in all areas of the solar value chain.
In a statement on the deal, DIF said it had entered this strategic partnership with DVV with a view to accelerating ib vogt’s growth and asset build out, and to fast track the transition of the company towards an independent power producer) model that develops, owns, and operates solar and battery storage projects.
“We are delighted to partner with DVV and the ib vogt team, who have proven to be one of the leading solar development platforms globally. The development, construction and operation of solar energy and battery storage plays a vital role in the decarbonization of electricity markets across the world and we believe ib vogt is well placed to play a major role in this,” said Gijs Voskuyl, Partner and Head of Investments for DIF Infrastructure VI. “We are excited to support the company and the highly experienced management team in the next phase of its growth, realizing ib vogt’s impressive pipeline and continuing the transformation from a developer into a global IPP.”
“The partnership with DIF will have an energizing effect for the company. We are delighted to be working with the DIF team. Our sector – and the company – are growing rapidly. The partnership represents an important and transformative next step in our evolution. It will help the company to reach new heights, accelerating the conversion of the tremendous pipeline potential that we have built up, and thereby creating a leading and value-adding IPP platform,” said Anton Milner, CEO of ib vogt.
“Our industry is pivotal in the fight against climate change. Together with DIF we have an opportunity to significantly increase the company’s contribution and impact in addressing this key global challenge. We are excited about our partnership and taking the company to the next level,” said Dagmar Vogt, founder and primary shareholder of ib vogt.