Solarpack takes over Spanish solar builder with 2.8-GW pipeline

Spanish solar energy developer and producer Solarpack said on Friday that it has finalised the acquisition of Solaer, a compatriot and a turnkey solar projects builder with a 2.8-GW pipeline in Spain and Italy.

The purchase price was not disclosed. Solarpack said it financed the transaction with funds provided by its shareholders.

The deal is the first inorganic corporate move for Solarpack after it was acquired by Swedish investment firm EQT AB (STO:EQT) in December 2021. The firm will now take over Solaer’s team and its gigawatt-scale solar pipeline to develop the projects. The package also comes with a network of offices and operation centres in regions Solarpack has not yet reached, the buyer said.

Besides Spain and Italy, Solaer also has offices in the UK, the US, India, Japan, Mexico and Colombia.

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