March 18 (Renewables Now) - German solar developer and contactor Ib vogt GmbH has offloaded its up to 90-MW Sebastopol Solar Farm project in New South Wales, Australia, to Fotowatio Renewable Ventures (FRV).
The sale was announced on Tuesday by Ib vogt but terms of the deal and financial details were kept under wraps. The buyer is part of Saudi Arabia’s Abdul Latif Jameel Energy.
The particular project is in the final development stages and has in place all planning consents and has secured all land rights and grid “committed” status with the Australian Energy Market Operator (AEMO). It was consented by the state’s Department of Planning, Industry and Environment last February.
The Sebastopol Solar Farm will be located near the town of Temora, Riverina region, connecting into an existing 132-kV powerline. Its website says the power plant will be installed on rural land that is currently used for stock grazing and will be subsequently coupled with a battery storage system.
Ib vogt first stepped on the Australian market in 2016 and since then has identified and progressed to advanced development more than 450 MWp of solar projects in New South Wales and Victoria.