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    Soltec signs agreement with ACEA to jointly develop 340 MW in Italy


    September 8, 2022 - CE Noticias Financieras

     

      Soltec, through its subsidiary Powertis, has reached an agreement in Italy with ACEA for the joint development of 340 megawatts (MW) of photovoltaic solar energy projects in the country.

      The company, which specializes in the photovoltaic sector, closed the first half of the year with a pipeline in Italy of 3.1 gigawatts (GW), an increase of 86% compared to the first half of the previous year. Specifically, 2 GW are in advanced stage of development, 569 MW in early stage, and 415 MW of identified opportunities.

      "Our vertical integration strategy is key in closing deals such as the one we have just signed in Italy. We are firmly committed to finding partners that add value to our assets. The geographic diversification of our pipeline is a fundamental value that allows us to guarantee growth, take advantage of opportunities that arise globally in different markets, and on the other hand minimize risks, maintaining a relevant presence in Europe," said Raul Morales, CEO of Soltec Power Holdings.

      In January of this year, it formalized with Germany's Aquila Capital the purchase of a 51% stake in a portfolio of 421 MW solar projects under development in Italy. Prior to this transaction, Powertis had already transferred 772 MW to the German company, bringing the total under joint development to 1,193 MW in Italy, plus 90 MW for energy storage.

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