Single-axis solar tracker firm Soltec has signed a €100 million syndicated credit facility with eleven banks, led by Banco Santander to continue to expand its international business with the opening of subsidiaries in the five continents.
“We appreciate the trust that these financial institutions have placed in us,” says CEO of Soltec Raúl Morales. “This credit will allow us to continue supplying solar trackers to our increasing number of PV projects in countries like Brazil, Egypt, or Spain.”
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
Soltec said that Banco Santander had led the credit facility creation with the advice from PWC. Financial institutions that joined the fund raising included Bankia, Bankinter, BBVA, Caixabank, Cajamar CajaRural, Ibercaja, Liberbank, Sadabell, Banco Cooperativo Español and Banco Pichincha España.
The company said that it had manufacturing facilities in Argentina, Brazil, China, and Spain, as well as offices in Australia, Chile, Denmark, Egypt, India, Israel, Italy, Mexico, Peru, and the United States.
