Ib Vogt secures financing for 135MWp solar project in Poland

Ib Vogt has secured the financing for a 135MWp solar project in Poland.

For this, the company reached an agreement with BayernLB and Siemens Financial Services under Siemens Bank.

The company informed that the solar project is currently under construction. The power plant is based near the communities of Zamość and Szczebrzeszyn iin the southeast of Poland. It will consist of more than 250,000 solar panels.

A local report mentioned that this particular solar project reflects a “significant investment in Poland’s renewable energy sector with a total commitment of US$90.4m (€90.4m).”

The project will have commercial operation of the first section in September, while the full project will have operation by next year.

According to the company, the panels will produce clean solar power of up to 150GWh annually. This power is equivalent to the average consumption of 70,000 households.

Ib Vogt chief executive Anton Milner commented, “This project is another important step for the company and our key mission of helping to drive the energy transition and the decarbonization of electricity generation.

This is the company’s first major plant in Poland while it plans for many in future in Central and Eastern Europe.