German renewables developer Ib Vogt has secured €135m in funding from institutional investor EIG Global Energy Partners to fund its solar project development pipeline.
Ib Vogt has a global pipeline of solar projects in excess of 16GW.
Ib Vogt chief executive Anton Milner said: “This investment is an important milestone for the company and can substantially underpin and boost our rapid growth.
“Our company has developed a global pipeline of solar projects in excess of 16GW, and the investment from EIG now gives us more flexibility and opens up new possibilities for the achievement of our strategic goals.
“We are particularly pleased to have established this partnership with EIG as one of the global leaders in this type of tailored, innovative structured financing in the sector and with a deep understanding of the renewable electricity markets.”
EIG chief executive R Blair Thomas said: “This investment is indicative of the broad opportunities EIG sees in sustainable investing and is consistent with EIG’s historic investment style.”