Solarpack Corporacion Tecnologica is all set to acquire Solaer Holding having projects in Spain and Italy.
For this, the company has already signed a share purchase agreement. Solaer Holding is said to have a 2800MW pipeline of solar projects.
The duo informed that the closing of the acquisition will materialise within this year.
According to Solarpack, following this acquisition, it aims to “complement its own organic growth in Spain and Italy reinforcing its leadership position as a global solar player.”
The company plans to mix up Solaer’s team and its own advantages to explore and enhance the growth plan of the group.
Pablo Burgos, CEO of Solarpack, was quoted in a statement, “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.”
The partnership is aimed at exploring opportunities together to grow beyond Spain and Italy.
Meanwhile, Ignacio Arganza, CEO of Solaer, remarked, “The combination of Solaer with a large player is a natural step in the life of the business to address the huge opportunity in the renewable arena.”