Solarpack Technological Corporation, SAU (Solarpack) completes the acquisition of the business in Spain and Italy of solear, a company specialized in the development, construction and operation of photovoltaic solar plants. With this transaction, Solarpack takes another step in its growth and consolidation strategy as an integrated solar photovoltaic platform with a global reach.
The purchase has already obtained the approval of the National Commission for Markets and Competition (CNMC), and constitutes -according to the company- the first corporate inorganic operation (purchase) that Solarpack carries out after being acquired by the swedish investment fund TEQ in December 2021.
With this acquisition, Solarpack incorporates into its platform the team of professionals that operates in Spain and Italy, as well as a network of offices and operation centers in regions where it had no presence to date, including the Italian market, where Solaer has a significant portfolio under development.
The team will be integrated into Solarpack to execute Solaer’s portfolio of projects under development, which reaches 2.8 gigawatts (GW) in Spain and Italy. With this operation, Solarpack advances in the growth objective set out in its strategic plan for 2026.
Pablo Burgos, CEO of Solarpack: “We are very pleased to add a team with distinctive capabilities and a strong portfolio of assets that reinforce our strategy of building a strong, global, diversified solar PV platform. We will continue to explore selective opportunities that can generate additional value for our shareholders and accelerate the energy transition”.
Solaer founding partners: “We believe that Solaer has chosen a top-level partner, which will allow us to grow in a context of an expanding market, but one that is increasingly competitive. The Solaer and Solarpack teams, with their extensive experience in the sector, together with the support of EQT , they will be able to reach any goal.”
Solarpack informs that the transaction is fully financed with funds provided by its shareholders.
About
Solarpack is a multinational company specialized in the development, construction, marketing and operation of large-scale photovoltaic solar projects, with a presence in Europe, North America, Latin America, Asia and Africa. Since its founding in 2005, the company has developed photovoltaic solar power plants with a total capacity of 1,151 megawatts (MW), in addition to having built 894 megawatts (MW) turnkey or EPC (engineering, procurement and construction).
Currently, the company claims to have 19 projects in its portfolio totaling 671 megawatts (MW) in Spain, Italy, Chile, Peru, India and Malaysia. In addition, Solarpack operates and maintains 34 plants, with a total capacity of 916 megawatts (MW), and provides asset management services for a total of 741 MW of its own and third-party projects. Headquartered in Getxo, Spain, Solarpack employs more than 350 people in 10 countries.
Solaer is a Spanish company that develops and builds turnkey photovoltaic solar projects. It has developed more than 1.8 gigawatts (GW) since 2006 in 180 projects. The company has international experience having commissioned projects in Europe (c. 685MW), North America (c. 950MW), Latin America, the Middle East and Asia (c. 120MW). It employs more than 100 people and is headquartered in Madrid.
EQT Partners is a Swedish investment group, Created in 1994, the group has invested more than €29,000 million in 20 years. The lines of business range from industrial companies, consumer goods, technology, media and telecommunications, to services or health. The countries where they invest belong to the European Union, especially in the Nordic countries, North America and China.