Masdar out of the UAE will be purchasing Ib Vogt’s stake in the 64.1-MWp “Infinity 50” solar photovoltaic park in Egypt. In addition, Ib Vogt has also entered agreements with Masdar to sell its stakes in an additional three solar parks with a combined capacity of 166.5 MWp in the Benban complex in southern Egypt.
Ib Vogt developed and built the project in partnership with Egyptian company Infinity Energy SAE and secured a 25-year power purchase agreement (PPA) for the plant’s output in Egypt’s feed-in-tariff round 1 program.
Infinity Vogt Services SAE will continue to provide operation and maintenance (O&M) services at the Benban properties.