Tuesday, March 21 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Mar 20
Week of Mar 13
Week of Mar 06
Week of Feb 27
Week of Feb 20
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Spain's Soltec bags EUR-100m funding to beef up asset management biz

    January 17, 2023 - SeeNews Renewables


      January 17 (Renewables Now) - Spanish solar energy group Soltec Power Holdings SA (BME:SOL) has securing EUR 100 million (USD 108.4m) in financing to strengthen its asset management business as part of the vertical integration strategy.

      The company said on Monday it had signed the financing agreement with a credit fund advised by Madrid-based real assets investment advisory firm Incus Capital.

      The funding will bankroll growth of Soltec Asset Management, the group’s relatively new business division dedicated to investment, operation and management of renewable energy infrastructure. Soltec further said the transaction will help it build and operate some of the projects in the development portfolio in Spain, Italy and Brazil.

      Soltec Asset Management was added in 2022 to complement the group’s offering as a solar tracker manufacturer and project developer.

      “This deal allows us to vertically integrate and to begin to enhance the real value of our renewable business, while providing us with the necessary funds to continue with our ambitious roadmap for the coming years,” commented Soltec CEO Raul Morales.

      The development division has some 13.7 GW of solar projects in different stages of completion as of September 2022. The unit operates in eight countries -- Spain, Italy, Denmark, Romania, Brazil, Colombia, the United States and Mexico.

      This division develops projects up to the ready-to-build stage for sale either to a third party or to Soltec Asset Management. The Soltec group expects the asset management business to have a portfolio of close to 1 GW of assets by 2025, it said.

      (EUR 1.0 = USD 1.084)


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.