Spanish solar developer Solarpack has reached an agreement to acquire 100% of the shares of developer Solaer.
The acquisition will complement Solarpack’s organic growth in Spain and Italy and reinforce its position in those markets, while accelerating the company’s growth plans in other markets, it said.
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
Founded in 2006 and based in Spain, Solaer currently has an advanced portfolio of more than 2.8GW solar PV projects in Spain and Italy.
Pablo Burgos, CEO of Solarpack, said: “This is a transformational move for Solarpack to lead the consolidation of the sector in Spain and reinforce our position as a sizeable global player with the support of our shareholders.”
Earlier this year, Solarpack launched a new business line through its click&go brand allowing customers to secure clean power directly from the firm’s solar assets under a remote self-consumption model.
The closing of the transaction is expected to happen before the end of the year, once all customary approvals have been granted.
