Soltec signs a €100 million financing agreement with Incus Capital to strengthen the asset management and exploitation business

• The financing goals to strengthen the expansion of asset administration and enterprise exploitation (Soltec Asset Administration) • With this deal, the Firm strengthens its purpose of changing its enterprise right into a vertically built-in IPP (Impartial Energy Producer) participant in relation to the renewable vitality sector

Murcia, 16 January 2023. Soltec, Spanish listed Firm chief within the renewable vitality sector, introduced the signing of a €100 million financing settlement with a credit score fund suggested by Incus Capital to finance its renewable asset administration and exploitation enterprise (Soltec Asset Administration).

Via this settlement, Soltec intends so as to add worth and speed up the expansion of Soltec Asset Administration, its enterprise division devoted to the funding, exploitation, and administration of renewable vitality property, and ensures the development and operation of sure tasks. within the challenge growth portfolio, primarily in Europe (Spain, Italy) and Brazil.

The Firm introduced this new division in 2022 to regularly develop into an IPP (Impartial Energy Producer), throughout the vertical integration technique included in its 2022-2025 Strategic Plan. Soltec has two different enterprise divisions: the economic division and the challenge growth division.

The CEO of Soltec, Raúl Morales, stated “This deal permits us to vertically combine and to begin creating the actual worth of our renewable enterprise, whereas offering us with the mandatory funds to proceed our bold roadmap for the approaching years”.

Soltec retained Mirabaud as monetary advisor, and Uria Menéndez as authorized advisor.

Incus Capital, however, has Taiga Mistral as technical advisor, and Linklaters as authorized advisor.

13.7 GW below growth worldwide
The pipeline of the event division (Soltec Growth) quantities to 13.7 GW of tasks (till September 2022) in varied levels of completion, and is in eight international locations: Spain, Italy, Denmark, Romania, Brazil, Colombia, United States and Mexico.
The division revealed a really optimistic evolution and a balanced and even publicity of its challenge pipeline: 46% in Europe and 54% in America.
The goal of the event division is to develop tasks as much as RTB (“Able to construct”), and at the moment they are going to be offered to a 3rd social gathering, or to the asset administration and exploitation division (Soltec Asset Administration), which is anticipated to have a portfolio of near 1 GW by 2025.
At the moment, 117 MW are in operation corresponding to 2 tasks in Spain and Brazil, and the Firm has 112.5 MW below development in Brazil, equivalent to the Araxá challenge (Minas Gerais, Brazil), which is able to quickly be linked to the grid , and 5 MW in Spain, scheduled for completion in 2023.

A aggressive benefit: vertical integration
Soltec started the implementation of its 2022-2025 Strategic Plan final 12 months, the place it introduced the creation of a brand new enterprise division targeted on asset administration: Soltec Asset Administration. Via this division, the corporate expects to acquire an extra income stream from the sale of vitality that gives returns, energy and stability to the Firm. In the identical approach, it’s going to additionally permit it to face out from its opponents and improve the worth of its tasks, whereas mitigating the present dangers within the worth chain because of the variety of geography and enterprise.
Within the roadmap it printed for the approaching years, Soltec expects to attain revenues value between €780-840 million by its three strains of exercise (industrial, challenge growth and asset administration) . The Firm additionally goals to attain an EBITDA throughout the vary of €100-120 million.
It’s anticipated to attain this because of the synergies between the completely different divisions and the return and energy offered by the vertical integration, along with the expansion prospects for the photo voltaic trade within the subsequent years.