What happens when a global solar developer meets a long-term infrastructure investor with European ambitions? On December 16, 2025, ib vogt answered that question by announcing the sale of its Baobab solar project in Spain to EOS Holding. While the deal value remains undisclosed, the transaction highlights growing confidence in Spanish renewable assets and signals another step forward in Europe’s clean energy transition. This blog explores the deal’s strategic importance, the asset’s strengths, and what it means for the wider renewable energy market.

The sale of the Baobab solar project to EOS NER Solar Espana S.L., a subsidiary of EOS NER wholly owned by EOS Holding, marks EOS NER’s second renewable energy investment in Spain. For EOS Holding, this aligns perfectly with its strategy to expand high-quality, long-term renewable infrastructure assets across Europe. For ib vogt, the transaction underscores its role as a leading developer capable of bringing utility-scale projects to commercial operation and attracting top-tier investors. Located in Castile and Leon’s Segovia province, Baobab forms part of a much larger 513.1 MWp cluster developed by ib vogt, reinforcing the region’s growing importance as a solar hub.

With a capacity of 85 MWac/95.18 MWdc and a commercial operation date in April 2025, the Baobab solar project is designed for durability and performance. A key strength lies in its 15-year power purchase agreement with Equinix, providing long-term revenue visibility and stability. The asset also carries future optionality, as it has potential for hybridisation with co-located battery energy storage systems. This could unlock additional value streams while improving grid resilience, a critical factor as Spain integrates more renewables into its energy mix.

Importantly, ib vogt will retain operations and maintenance as well as asset management responsibilities. This ensures continuity, performance optimisation, and long-term asset value preservation under experienced stewardship. Financing milestones also strengthen the project’s foundation, with Banco Santander having provided €60 million in project financing in April 2024. Supported by legal advisors Herbert Smith Freehills Kramer for ib vogt and Garrigues for EOS Holding, the transaction sets a clear example of how developers and investors can collaborate effectively.

The Baobab solar project sale reflects the maturity of Spain’s renewable energy market and the appetite for bankable, future-ready assets. As Europe accelerates its energy transition, deals like this will shape the next phase of sustainable infrastructure.

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