Soto Solar provides 50% of its participation and secures the own funds necessary for its first 500 MW tranche in photovoltaic solar projects in Spain. The company will invest more than 100 million euros in photovoltaic solar projects in the country.
Soto Solar, a Madrid-based company founded by Stecc and Hartenlust Solar that became operational at the end of 2018, has announced in a press conference that it has completed the sale of a 50% stake in its business to a group of international private investors. The sale is accompanied by a commitment to inject funds that will be used for investments in photovoltaic solar projects in Spain.
Since the end of 2018, the Madrid-based company has generated a portfolio of photovoltaic projects of more than 500 MW through a number of local partnerships. It is reportedly exploring opportunities related to energy self-consumption, storage and trading. “This new investment will allow Soto Solar to expand its equipment and begin to realize its main objective for the next 5 years: to install a total photovoltaic solar capacity of 2 GW”, Bas Dekker, co-founder of Soto Solar.
Stecc is a Dutch corporate finance boutique that undertakes and invests in projects focused on innovation and sustainability. For its part, Hartenlust Solar is an independent and self-financed capital company. Hartenlust focuses on the development of medium-sized companies.