German ib vogt sells investment in Egypt’s Benban solar park to UAE’s Masdar

German ib vogt sells investment in Egypt’s Benban solar park to UAE’s Masdar

ArabFinance: German solar company ib vogt GmbH sold its entire equity in the 64.1 megawatt peak (MWp) (Infinity 50) photovoltaic (PV) plant in Benban solar park in Egypt to Abu Dhabi-based renewable energy company Masdar, according to a September 15thpress release.The two companies signed agreements of intent related to the purchase of ib vogt's shareholdings in three more solar parks in the Benban solar complex, which have a combined volume of 166.5 MWp.The Infinity 50 solar plant was the first large-scale PV power plant built in Egypt two years ago, ib vogt said, noting that it later became the Benban Solar Development Complex, one of the world's largest utility-scale grid-connected solar power complexes.In the exit transaction, as well as the original debt financing for the Infinity 50 plant, the German