Solarpack Corporación Tecnológica has reached an agreement with the shareholders of Solaer Holding for the acquisition of 100% of the company. Solaer is a Spanish developer of photovoltaic solar projects that has developed more than 800MW since 2005.
The value of the transaction has not been disclosed. The acquisition is expected to close before the end of the year and once the usual approvals for these types of transactions are granted.
Solarpack ensures that with this agreement it advances its corporate purpose, “accelerating the transition towards clean and affordable energy for all, while contributing to the energy challenge facing Europe”.
Through this acquisition, Solarpack will integrate a platform that includes a project of more than 2.8 GW in Spain and Italy, with the aim of expanding this portfolio in the coming years.
The acquisition of Solaer is aligned with Solarpack’s strategy, which includes organic and inorganic growth in mature renewable markets, and represents its first acquisition under EQT ownership. The acquisition perimeter excludes Solaer’s projects outside of Spain and Italy.
The transaction is fully financed with funds provided by Solarpack shareholders. CaixaBank, Linklaters, KPMG and DNV have acted as advisors to Solarpack and Nomura and Ramón y Cajal have acted as advisors to Solaer.