Watson Farley & Williams (“WFW”) has advised ib vogt GmbH (“ib vogt”) on the sale and development of a ground-mounted photovoltaic plant with a nominal capacity of 122 MWp to Octopus Energy Group (“Octopus Energy”).
Under construction since January 2024 on an 84-hectare site in Brandenburg, the plant will be one of the largest solar projects in Germany once operational in the fourth quarter of this year. The electricity it will generate will be equivalent to the average annual consumption of 36,000+ households and will save 48,000 tonnes of CO2 emissions per year. ib vogt is responsible for all engineering, procurement and construction services as well as the operation and maintenance of the project after completion.
Berlin-based ib vogt has 20 years’ experience developing large-scale solar projects worldwide. Their portfolio currently comprises 3.1+ GWp projects operational or under construction, as well as a 45+ GWp pipeline in various stages of development.
Octopus Energy is one of Europe’s largest renewable energy investors with a 3.2 GWp wind and solar portfolio spanning 17 countries capable of supplying two million households with electricity every year.
The WFW Hamburg Corporate and M&A team that advised ib vogt was led by Partner and Global Energy Sector Co-Head Malte Jordan supported by Senior Associate Muteber Yalcin. Partners Maximilian Boemke and Sebastian Baum advised on the public and real estate law aspects of the transaction respectively, with Partner Verena Scheibe and Managing Associate Verena Weider providing tax expertise.
Malte commented: “We are delighted to have been able to advise ib vogt on this significant transaction in the German photovoltaic market. This mandate once again reflects WFW’s outstanding expertise advising on the large-scale, complex renewables transactions that will play a key role in Germany’s energy transition”.
