Soltec and Incus Capital Announces €100 Mn Financing Agreement
Soltec has announced the signing of a €100 million financing agreement with the credit fund advised by Incus Capital to fund its renewable asset management and exploitation business (Soltec Asset Management).
January 17, 2023. By News Bureau
Through this agreement, Soltec seeks to add value to and speed up the growth of Soltec Asset Management, its business division dedicated to the investment, exploitation, and management of renewable energy assets, and guarantees the construction and operation of some of the projects in the project development portfolio, mainly in Europe (Spain, Italy) and Brazil.
The Company announced this new division in 2022 to gradually become an IPP (Independent Power Producer), within the vertical integration strategy included in its 2022-2025 Strategic Plan.
Soltec has two other business divisions: the industrial division and the project development division.
Soltec’s CEO, Raúl Morales, says “This deal allows us to vertically integrate and to begin to enhance the real value of our renewable business, while providing us with the necessary funds to continue with our ambitious roadmap for the coming years”.
Soltec has retained Mirabaud as financial advisor, and Uria Menéndez as legal advisor.
Incus Capital, on the other hand, has had Taiga Mistral as technical advisor, and Linklaters as legal advisor.
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