EQT acquires controlling stake in Solarpack, eyes full takeover

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
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

July 26, 2021
Oil and gas giant Eni has acquired 1.2GW of Spanish renewables from Madrid-based European private equity manager Azora.
July 20, 2021
It is “unhealthy” for China to dominate solar manufacturing and production bases outside of the country are necessary to reduce the risk of supply chain disruptions, an Indian government official has said.
July 20, 2021
Vikram Solar has completed a new 1.3GW solar module manufacturing facility in Tamil Nadu, India, taking its total manufacturing output to 2.5GW.
July 20, 2021
Chilean developer Mainstream Renewable Power today announced plans for a new renewable energy platform in Chile with over 1GW of capacity
July 19, 2021
Merchant solar and projects backed by power purchase agreements (PPAs) drove ground-mounted PV deployment in Spain last year, as the country installed its second-highest yearly amount of 2.8GWp, new figures from trade association UNEF reveal.
July 13, 2021
Solar PV capacity in Asia Pacific could triple to 1,500GW by 2030, with China driving deployment and Indonesia set to be the region’s fastest-growing market, according to Wood Mackenzie.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK