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Soltec signs EUR-100m credit facility

Soltec signs EUR-100m credit facility

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Soltec signs EUR-100m credit facility

October 4 (Renewables Now) – Spanish solar products maker Soltec Renewable Energies announced today it has closed a EUR-100-million (USD 115m) syndicated credit facility with 11 banks.

The purpose of obtaining this facility is to cover the commercial expansion process that the company initiated in 2014 with the signing of its first supply contract for a large-scale solar plant.

“This credit will allow us to continue supplying solar trackers to our increasing number of PV projects in countries like Brazil, Egypt, or Spain,” Soltec’s CEO, Raul Morales, said.

Banco Santander led the financial deal with advice from PwC. The other 10 banks include Bankia, Bankinter, BBVA, Caixabank, Cajamar CajaRural, Ibercaja, Liberbank, Sadabell, Banco Cooperativo Espanol and Banco Pichincha Espana.

(EUR 1 = USD 1.15)

Source: renewablesnow
Anand Gupta Editor - EQ Int'l Media Network

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