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Construction began in January and the project is expected to reach its Commercial Operations Date (COD) in the third quarter of this year. The solar farm will be built south of the municipality of Schiebsdorf in the state of Brandenburg on an area of 83.8 hectares. The area intended for the construction of the plant offers ideal conditions for the realisation of a solar project due to its low soil value and the resulting low agricultural yield potential. The land will be used for energy generation and will be extensively tended and maintained, enhancing its ecological value.

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The project uses state of the art bifacial solar panels with a south-facing orientation to maximise the energy potential of the site. The electricity generated annually by the solar park is estimated to be equivalent to the average consumption of more than 36,000 households and will save 48,000 tonnes of CO2 emissions per year. Thanks to the voluntary community participation agreement concluded in accordance with Section 6 of the German Renewable Energy Sources Act (EEG), the local community also directly benefits from the electricity generated.

Ikarus Capital financial advisor

“With this project we are very proud to further contribute to the energy transition in Germany and to assist Octopus Energy Generation in their efforts to further decarbonise electricity production,” said Anton Milner, CEO of IB Vogt. “We would like to congratulate all parties involved and express our appreciation for the successful transaction. There were many challenges to overcome in this project and all parties involved have shown their commitment, perseverance and expertise to bring this project to a successful conclusion.”

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IB Vogt is providing full engineering, procurement, and construction (EPC) services as well as future operations & maintenance (O&M) once the project is completed. Throughout the sales process, IB Vogt was supported by Ikarus Capital as financial advisor and Watson Farley Williams as legal advisor. (hcn)