Faria Renewables acquires 780 MW project portfolio in Greece

German renewable energy developer ib vogt has agreed to sell its project portfolio in Greece of 780 MW in peak capacity to Faria Renewables, a Greek renewable power producer and developer. The investments include solar and battery storage assets in various stages of development.

Within the portfolio to be taken over by Faria Renewables is a solar farm under construction, with a total peak capacity of 45 MW. The project comprises three separate sites in the municipality of Almyros in Thessaly. It recently secured financing from a Greek bank. The facility is expected to be completed in the second half of 2025, according to a press release from ib vogt.

The portfolio includes a 45 MW solar park under construction

The solar plant’s annual electricity output will equal the average consumption of more than 17,000 households, offsetting up to 25,000 metric tons of CO2 emissions, it said.

“We are pleased to deliver this portfolio to Faria Renewables and support them in their positioning as a key player in Greece’s renewable energy sector. It allows us to strengthen focus on our European core markets and international expansion in the coming years” said Anton Milner, CEO of ib vogt.

Faria Renewables is a Greek independent renewable power producer (IPP) and developer backed by Omnes Capital’s Capenergie 5 fund and the Faria Group. It focuses on developing renewable energy projects in Greece, Europe, and other emerging renewables markets globally.

Faria is building the 35 MW Mykonos solar power plant

In July 2024, the company acquired the Mykonos photovoltaic project in central Greece, with a capacity of 35 MW. It is targeted for completion by the fourth quarter of 2025, Faria said then, adding that the facility’s annual output was projected at 52.5 GWh.

Faria Renewables added at the time that its portfolio under development across Greece totaled 3,500 MW, including more than 126 MW in the construction or electrification phase.