An infrastructure fund managed by DIF Capital Partners has acquired a majority stake in a global solar project company from the current owner DVV.
DIF said its DIF Infrastructure VI fund is buying a 51% stake in utility-scale photovoltaic solar developer Ib vogt.
Financial details were undisclosed.
DIF and DVV have agreed to accelerate Ib vogt’s growth plan as well as to fast track the transition of the company towards an independent power producer model that develops, owns, and operates solar and battery storage projects.
Headquartered in Berlin, Ib vogt has a total capacity, built or in construction, of over 2.2GWp to date combined with a project development pipeline in excess of 40GWp. Ib vogt has 27 offices across Europe, North America, Asia-Pacific and Africa as part of its presence in over 40 countries.
Gijs Voskuyl, partner and head of investments for DIF Infrastructure VI, said: “The development, construction and operation of solar energy and battery storage plays a vital role in the decarbonisation of electricity markets across the world and we believe Ib vogt is well placed to play a major role in this.”
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