A major solar project in Romania has advanced to its next phase after German renewables developer ib vogt GmbH secured €55 million in financing and achieved financial close for a 68.4 MW solar power plant in the country’s northwest. The milestone represents another step in the company’s broader expansion across Central and Eastern Europe.
The financing package was provided by Erste Group Bank and BCR, while advisory support for structuring and due diligence came from DLA Piper, Fichtner, KPMG Romania and Marsh. According to ib vogt, the transaction reflects an innovative approach to project financing, particularly in light of today’s rapidly evolving energy markets. The company added that the successful close signals continued investor confidence in large-scale renewable infrastructure.
The solar facility is being developed in Bihor County and is backed by a virtual power purchase agreement with a U.S. technology company, whose identity has not been disclosed. The vPPA will enable the plant’s future production to be monetized directly with the corporate off-taker once generation begins.
ib vogt specializes in delivering turnkey solar and battery-storage projects while simultaneously expanding its own asset base as an independent power producer. The company operates globally, with offices across Europe, Asia Pacific, the Americas and Africa.
