Soto Solar, Macquarie hit solar finance milestones in Spain

Facebook
Twitter
LinkedIn
Reddit
Email
Madrid. Source: Evgenii, Flickr

4 September: Madrid-based Soto Solar has raised €100 million (US$110 million) by selling a 50% stake to a group of private wealth investors and raising “committed project equity.”

The equity will benefit the firm's ground-mounted solar projects in Spain.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The company was formed by Dutch investment firms Stecc and Hartenlust in late 2018. It has a solar pipeline of 500MW in Spain and wants to install a total of 2GW over the next five years.

Cofounder Bas Dekker said in a statement that the “European market for renewable assets will gradually transform into an institutional asset class, and the Spanish market offers attractive subsidy-free opportunities for professional parties with a long-term horizon.”

The firm is “exploring adjacent opportunities in energy storage,” according to the statement.

Macquarie refinances Spanish solar debt

4 September: Macquarie Infrastructure Debt Investment Solutions (MIDIS) has made a €38 million (US$42 million) debt investment in a portfolio of Spanish solar farms on behalf of its European and Asian insurance clients.

The 13.6MW portfolio, managed and owned by Spanish investment manager Q-Energy, comprises six operational plants in south-eastern Spain.

The infrastructure debt firm refinanced the portfolio’s existing debt with 21-year, amortising, floating rate, senior secured bonds, and structured an orphan interest rate swap facility to support the transaction, provided by Goldman Sachs International.

Managing director of MIDIS Tom van Rijsewijk noted in a statement that “significant capital investment is required as Spain pursues its ambitious target to generate 100 per cent of its electricity from renewable sources by 2050. “

Q-Energy claims to manage a 1GW renewables pipeline in Italy and Spain. According to head of structure finance Daniel Parejo, this is the second project bond it has worked on with Macquarie

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

July 7, 2025
In Europe, PV panel prices fell marginally between May and June, leading to a slight downturn in European module buyers’ market confidence.
July 4, 2025
Chinese PV provider Skycorp Solar Group has announced a solar plant acquisition and development strategy following unanimous board approval.
July 3, 2025
Spanish IPP Zelestra has secured a €235 million (US$277 million) increase to its sustainability-linked loan, bringing the total to €770 million.
Premium
July 3, 2025
Meeting the UK’s solar targets will not simply require the installation of new capacity, but investment in grid infrastructure and training.
July 3, 2025
TotalEnergies has expanded its renewables assets in the Caribbean, sold a stake in projects in Portugal and begun construction on two PV parks in Spain.
July 2, 2025
Asset management firm Capital Dynamics has secured €110 million (US$129.4 million) in financing for three solar PV projects in Spain.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK