The companies have exceeded their target of agreeing to co-developing 750MW of solar projects in Italy. Image: Powertis.
Spanish solar company Soltec Power Holdings, through its subsidiary Powertis, has sold a controlling stake in 421MW of its solar PV projects and 90MW of energy storage in Italy to German investment firm Aquila Capital under a co-development agreement.
Aquila has acquired a 51% stake in a portfolio of 15 solar PV projects as part of the deal, with Powertis retaining 49%. However, the agreement includes an option for Aquila to acquire the remaining stake from Powertis once the projects reach “ready-to-build stage or at their commercial operation date”.
In line with previous arrangements between the two companies, Soltec Power Holdings has been granted certain rights over the supply of solar trackers used in the projects, as well as contracts for the…