Spanish solar company Soltec Power Holdings, through its subsidiary Powertis, has entered into an agreement with multi-utility group ACEA to co-develop 340MW of solar PV in Italy.
The agreement increases the Spanish group’s presence in Italy where it had a 3.1GW pipeline at the mid-point of 2022, an 86% increase compared to H1 2021.
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The pipeline comprises of 2GW of projects in advanced stage, 569MW in early stage and 415MW of identified opportunities across Italy.
The company continues to solidify its presence in the country. For example, it entered in an agreement with Aquila Capital earlier this year to co-develop 421MW of solar PV and 90MW of energy storage by selling a controlling stake on those projects.
Raúl Morales, CEO of Soltec Power Holdings, said: “Our vertical integration strategy is key to formalised deals such as the one we have just signed in Italy. We are firmly committed to finding partners that add value to our assets.”
The company, which has two main divisions, one focused on manufacturing solar trackers and the other, Powertis, on the development of projects plans to gradually transition to an independent power producer (IPP) as it aims to secure additional revenue.
