Photovoltaic – Soltec Asset Management, new asset management division

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Energías Renovables

Soltec Energy Holdings today presented its 2022-2025 Strategic Plan with which it is going to take a further step in its integration strategy with the intention of gradually becoming an industrial IPP through its new business division, Soltec Asset Management, which is adds to the other two lines of activity of the company: the industrial division and the business development division, as reported in a statement. Through this new strategic plan, Soltec seeks to promote its purpose of contributing to the construction of a cleaner, more sustainable and fairer world through energy and is preparing to face the current complex environment marked by uncertainty.

Soltec outlines its roadmap for the coming years in which it expects to achieve revenues of between 780-840 million euros through its three lines of activity (industrial, project development and asset management). Likewise, the company has communicated to the market that it has the objective of achieving in this period an operating result that is in the range of 100-120 million euros, thanks to the synergies between the different divisions and the recurrence and solidity provided by vertical integration.

Business lines
Soltec Power Holdings has been committed to vertical integration for years and has now decided to go a step further with the aim of generating value for its shareholders through three lines of business that encompass the development of photovoltaic projects, asset management and activity industrial (supply of solar trackers and other construction services). The company currently has 11.6 gigawatts (GW) of projects under development at different stages of development. Especially noteworthy are the 5 megawatts (MW) that have recently been connected to the grid in Spain (of which it maintains 35% ownership), demonstrating the company’s capacity to execute, as well as 225 MW under construction in Brazil.

Through the asset management division, Soltec expects to obtain an additional income stream from the sale of energy that provides recurrence, solidity and stability, as well as mitigating existing risks in the value chain thanks to geographic diversification and of business. This new area will allow the company to differentiate itself from its competitors and maximize the value of its projects.

the sun tracker
The industrial division of Soltec -reports the company- has a very relevant leadership position at a global level, rising to the third position for accumulated trackers installed. It is important to highlight that the solar industry maintains very significant growth prospects for the next 30 years, fundamentally due to cost competitiveness and public policies promoting renewable energies. In addition, within the photovoltaic industry, the solar tracker maintains a solid value proposition compared to fixed installations thanks to the increase in the energy produced, between 15% and 25%.

This reflects the solid value proposition of the solar tracker and of the photovoltaic industry, which is added to Soltec’s presence in relevant markets for this energy and its ability to continue closing supply contracts with tier 1 clients at an international level in an environment disruptive. The company has an accumulated track record of 12.7 GW (0.9 GW in the first quarter of the year) at the end of the first quarter of 2022 and maintains robust operating indicators: the backlog at the end of the first quarter of the year reached 399 Mn euros (2.4 GW), and the pipeline stood at 2,928 Mn euros (24 GW), reflecting the ability to close contracts in complex environments.

In its strategic plan, Soltec expects the supply of solar trackers to reach cumulative volumes of between 26 and 30 GW in the year 2025, with revenues of between 750 and 800 million euros, and an EBITDA of between 45 and 50 Mn euros.

photovoltaic projects
The development of photovoltaic projects is a field in which Soltec has relevant experience since its inception. Thanks to this, the company currently has more than 11.6 GW of projects under development at different stages of development, 225 MW under construction and 5 MW that have recently been connected to the grid in Spain (35% owned).
The pipeline of projects under development by the firm by 2025 will reach between 25 and 30 GW globally, with a very balanced portfolio of projects in all the markets where the company is present, maintaining 55% of the pipeline in Europe and expecting enter a new country every 18 months.

The development of projects has clear competitive advantages, among which stand out a highly specialized team of 85 people who are exclusively in charge of project development, the presence in countries with great growth potential for photovoltaic energy, areas with high solar radiation, the quality of its assets or geographic diversification, among others.

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