ib vogt, a renewable energy project developer, has agreed to sell the 149 MW Garnacha solar project in Spain to ERG, a renewable energy independent power producer. The Garnacha solar power project is in an advanced stage of construction. Commercial operation is expected to begin by the end of 2023, after which ib vogt will provide complete O&M services. The transaction for the 100 % stake in Garnacha Solar is expected to close by the third quarter of 2023 and represents an enterprise value of 170 million euros (~$188 million).