Solarpack targets 2GW of PV in operation or under construction by 2023

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Solarpack owns a majority stake in the 25MW Tacna project in Peru (pictured). Image: Solarpack

Spanish developer Solarpack has updated its guidance to have between 1.8GW and 2GW of solar in operation and under construction by 2023.

Publishing its full-year results, Solarpack said 2020 was marked by “intense construction activity”, mainly focused on third-party projects, as it posted operating revenues of €159.2 million (US$192.9 million), up 77% on 2019.

Net profit was down 12% to €10.4 million, in part due to refinancing costs for assets in Spain and Peru.

Last year saw the company win development rights for solar projects from tenders in both India and Chile. New order intake in 2020 from the two countries totalled 469MW, more than double the order amount from 2019.

The firm said it was also awarded a build, operate and transfer deal in Ecuador for a 259MW facility, but is still waiting to close the agreement.

Solarpack commissioned 199MW of Spanish PV projects for third parties in the country last year, and is now moving forward with the construction of 116MW in Malaysia and 76MW in Chile, of which 120MW will pass to its power generation unit later this year.

Founded in 2005, Solarpack currently generates power through 15 PV parks in Spain, Chile, Peru and India with a combined capacity of 545MW. It also operates and maintains 22 plants with a total capacity of 742MW and provides asset management services for 694MW of own and third-party projects.

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