8 September 2022

Soltec Power Holdings, through its project development division Powertis, and ACEA sign a cooperation agreement for the joint development of 340 MW of solar PV projects in Italy

  • Soltec Power Holdings, through its division Powertis, has reached a portfolio of more than 3.1 GW in different stages of development in Italy, at the end of the first semester of 2022

Powertis, the Spanish company specialized in the development of solar photovoltaic projects of Soltec Power Holdings, has formalized an agreement with ACEA for the co-development of 340 MW of solar PV projects in Italy.

With this new milestone, Powertis consolidates its position in the Italian market. The pipeline in Italy at the end of the first half of 2022 amounted to 3.1 GW. This transaction confirms the excellent shape of the company’s global pipeline and the quality of the assets available in Italy.

According to Pablo Otín, CEO of Powertis “ACEA is a first level partner in a strategic country for the development of our company in Europe. Our positioning, the quality of our assets, the development team we have locally and the synergies reached as a result of the integration with Soltec Power Holdings, have allowed us to close quality agreements with strategic partners for us, which will lead Soltec to maintain and improve its competitive positioning in the country.”

Raúl Morales, CEO of Soltec Power Holdings stated that “Our vertical integration strategy is key to formalized deals such as the one we have just signed in Italy. We are firmly committed to finding partners that add value to our assets. The geographic diversification of our pipeline is a fundamental value that allows us to guarantee growth, to take advantage of the opportunities that arise globally in the different markets, and to minimize risks, while maintaining a relevant presence in Europe.”

Soltec Power Holdings has closed in 2020 and 2021 with Aquila Capital in Italy, having transferred more than 1,193 MW of early-stage development projects in the country.

The company closed the first half of the year with a total pipeline of more than 3.1 GW in Italy, an 86% increase compared to the first half of 2021. This pipeline comprises 2 GW in advanced stage, 569 MW in early stage, and 415 MW of identified opportunities.