EQT acquires controlling stake in Solarpack, eyes full takeover

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
One of Solarpack’s projects in Calama, Chile. Photo Credit: Solarpack

EQT infrastructure has announced a takeover bid for Solarpack, which owns approximately 450MW of operational solar PV projects.

Sweden-based EQT has signed an irrevocable agreement with two Solarpack shareholders to buy their shares worth 51% of the company. It also means to acquire the full 100% of the Spain-based developer from the remaining shareholders.

EQT, which created special purpose company Veleta BidCo for the bid, is offering all shareholders of the company €26.50 in cash per share. This amount is 45% over the closing price on 15 June and 35% over the volume weighted average of price shares of Solarpack during the three months to that date.

The offer is conditional on EQT reaching a minimum acceptance of 75% plus one share, and the acceptance of Spain’s antitrust authorities. If acquired, EQT intends to delist the shares, taking the company private.

Solarpack is an independent power producer (IPP) operating across eight countries, but mainly in Spain, Chile and India. In total, it has developed and built roughly 1.3GW worth of energy projects.  

Read Next

May 12, 2022
Power conversion technology provider Ampt has delivered 240MW of string optimisers to the “largest solar-plus-storage plant” in Latin America according to Ampt.
May 9, 2022
Indian independent power producer (IPP) Azure Power has appointed Harsh Shah as CEO, effective from 1 July, following the resignation of its previous CEO, Ranjit Gupta, last month.
May 6, 2022
Tata Power Solar has landed what it claims to be India’s largest single solar EPC order of 1GW for roughly INR5500 crore (US$715 million) from Indian state-owned utility SJVN Ltd.
May 6, 2022
German renewables company BayWa r.e. will tender 10TWh of green electricity later this year, describing the move as a “turning point” for Europe’s power purchase agreement (PPA) market.
May 6, 2022
The European Union (EU) should set higher solar PV deployment targets and speed up the energy transition to phase out its energy dependency on Russia as soon as possible, according to five member states of the bloc.
May 5, 2022
German conglomerate BayWa benefited from high demand for solar modules during the first quarter of 2022, with its revenues bolstered by the sale of an operational PV plant in the US.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 14, 2022
Napa, USA
Solar Media Events
October 4, 2022
New York, USA