ib vogt GmbH and Primrose Solar close the sale of 46 MWp of solar farms in the UK

Berlin/ Newhaven/ London, 10/09/2014. ib vogt GmbH has sold a portfolio of three new UK solar farms with a total capacity of over 46 MWp to Primrose Solar. The solar farms are located at Littlebourne near Canterbury, Kent (17 MWp), at Ninfield near Bexhill-on-sea, Sussex (11.5 MWp), and at Herne Bay, Kent (18 MWp). Construction started in July, with all projects now close to completion and due to be connected to the grid in the coming weeks.

The solar farms are forecast to generate over 48 GWh per annum of renewable electricity in total, enough to power the equivalent of more than 13,000 average homes and to save over 600,000 tonnes of carbon dioxide (CO2) over their 25-year lifetime. As each site will be commissioned shortly, they will qualify for the 1.4 ROCs (Renewable Obligation Certificate) scheme.

The projects were developed by ib vogt GmbH, with vogt solar Ltd also acting as EPC and O&M contractor. Ikarus Capital Partners Limited has acted as financial adviser to ib vogt GmbH on this transaction.

Giles Clark, CEO of Primrose Solar, said: “We are very pleased to be working with vogt solar on the development of these projects. All three projects are on excellent sites in the south-east of England with high levels of sunlight.  The sites are well-screened and we will work to enhance biodiversity and to improve ecology on the sites.

“With this transaction we have increased our solar portfolio to more than 175 MWp of projects, either operating or under construction, and our sites are making an important contribution to local and national renewable energy targets and reducing carbon emissions.”

Anton Milner, Managing Director of ib vogt GmbH, said: “We too are very pleased to be working with Primrose Solar. With these three latest projects, we will have constructed a total of around 220 MWp of high performance PV projects in the UK – with more to come - demonstrating our long-term commitment to this market and to contributing to the UK’s renewable energy generation and CO2 reduction targets. We develop, construct and operate our projects to a very high standard with the objective to deliver maximum reliability and performance to the benefit of the local community, our business partners and the environment.”