November 5 (Solar) – Spain-based independent solar power producer Solarpack Corporacion Tecnologica SA today announced plans to list on the Spanish Stock Exchanges to raise EUR 100 million (USD 113.9m) in gross proceeds for growth.
The company said it will use the funds raised from the offering to qualified domestic and foreign investors to execute its 510-MW contracted backlog, consisting of projects to be built in the next 15-18 months in Spain, Chile and India. Getxo, Spain-based Solarpack will also use the money to acquire 13 MW of operating assets in Spain and to support the development of its 2.9-GW global project pipeline.
The prospectus for the offering is currently undergoing an approval process by the Spanish Securities Market Commission (CNMV).
Since its creation in 2005, Solarpack has developed 529 MW of photovoltaic (PV) power in six countries. It currently has equity stakes in 11 PV projects in Spain, Chile, Peru and India with a combined capacity of 252 MW. The company also provides operation and maintenance (O&M) and asset management services.
(EUR 1 = USD 1.139)