On 11 December, Soltech Energy Sweden AB (publ) signed an agreement to acquire an additional 34.7 percent of the shares in the Spanish subsidiary Sud Renovables. This means that Soltech Energy now owns 99.7 percent of the company. The remaining 0.3 percent is still owned by the founders of the company. Sud Renovables, with approximately 90 employees, had sales of approximately SEK 120 million in 2024. The acquisition is financed from own cash.
The Spanish solar energy company Sud Renovables, which became part of the group when Soltech acquired 65 percent of the shares in 2022, is active in solar energy and storage solutions for commercial and industrial customers' self-consumption of solar energy and energy storage.
Soltech's acquisition of the shares is made in accordance with previous option agreements. Soltech now owns 99.7 percent of Sud Renovables, following an agreement with the founders that they will retain 0.3 percent of the company going forward. At the same time, a new option agreement has been signed to enable Soltech to own 100 percent in the future when and if needed to satisfy Soltech's interests.
"We are very pleased to acquire nearly the entire remaining stake in Sud Renovables. With a focus on quality, impressive innovation and a strong driving force, they are an important part of the Group and an industry leader in solar energy and energy storage in Spain. It is extra great that the founders Alfred, Manel and Angél want to continue to be owners and now we will jointly take the company to the next level, says Patrik Hahne, CEO of Soltech Energy.
Offering a wide variety of energy solutions
Sud Renovable's projects often consist of large-scale roof-mounted solar systems, solar facades, solar roofs for parking lots, solar parks and floating solar installations on rainwater collection ponds.
The company was founded in 2005, is well established in Catalonia and has since 2022 been a valued part of the Soltech Group. The company will now have additional opportunities to continue its work to develop the energy solutions of the future that create value for both the customer and the climate.
"We value being part of Soltech Energy and now we are given even better opportunities to further develop our offering and continue to deliver high quality to our customers. Now we and our employees look forward to continuing the journey together with Patrik, Oscar, the rest of the team at Soltech and our sister companies in Sweden and the Netherlands, says Alfred Puig, CEO of Sud Renovables.
For more information, please contact:
Patrik Hahne, CEO, Soltech Energy Sweden AB
E-mail: patrik.hahne@soltechenergy.com
Phone: +46 73- 518 51 66
Niclas Lundin, CFO, Soltech Energy Sweden AB
E-mail: niclas.lundin@soltechenergy.com
Phone: +46 72- 071 03 09
About Soltech Energy Sweden AB (publ)
Soltech Energy is a full-service provider with market-leading expertise in solar energy, electrical engineering, façades, roofing contracting, charging infrastructure, and advanced energy storage solutions with integrated smart control systems. Soltech Energy Sweden AB (publ) is listed on the Nasdaq First North Growth Market under the ticker symbol SOLT. The Company's Certified Adviser is DNB Carnegie Investment Bank AB. For more information, visit: https://soltechenergy.com
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