CONTACT US
NORTH AMERICA
EUROPE & MIDDLE EAST
SOUTH AMERICA
ASIA & PACIFIC

Soltec-US-Arizona
Arizona
2016 | NORTH AMERICA | USA | 38 MW
SF Utility tracker equipment supply and installation for project developer Isolux Corsan.
Video
bahia soltec solar pv panels tracking plant 158 MW - Soltec
Bahia
2016 | SOUTH AMERICA | BRAZIL | 158 MW
SF Utility tracker equipment supply and installation.

Soltec Signs a Credit Facility of 100 Million Euros

Soltec PV Plant Under Construction - Soltec Solar Trackers

Soltec Signs a Credit Facility of 100 Million Euros

Some of the top Spanish financial institutions join as lenders

Soltec closed the signing of a 100 million euros syndicated credit facility with eleven banks to continue with the internationalization process that has led the company to develop projects and open subsidiaries in the five continents.

Banco Santander has led this financial operation with the advice of PwC; other financial institutions such as Bankia, Bankinter, BBVA, Caixabank, Cajamar CajaRural, Ibercaja, Liberbank, Sadabell, Banco Cooperativo Español and Banco Pichincha España have also taken part. Furthermore, Soltec counted on the legal collaboration of Garrigues during the entire process.

A syndicated credit is a large loan arranged, structured, and administered jointly by two or more financial institutions in order to handle the high volume of funds.

The main objective of this credit facility is to cover the commercial expansion process in which Soltec has been focus since 2014, when its international journey began with the signing of its first supply contract for a large-scale solar plant.

“We appreciate the trust that these financial institutions have placed in us,” says CEO of Soltec Raúl Morales. “This credit will allow us to continue supplying solar trackers to our increasing number of PV projects in countries like Brazil, Egypt, or Spain.”