Will imply the signing in the coming months of a 25 year long PPA for its project, which is located in the state of Rajasthan and which will achieve commissioning during 2022.
The Getxo-based multinational, specialized in solar photovoltaic energy, shows solid results in the first quarter of 2020, reflecting intense construction activity and the contribution of new megawatts brought into service by the Power Generation (POWGEN) unit in Spain, Chile and India during 2019 and the start of 2020.
Ardian becomes a minority partner in both projects following the agreement signed between Solarpack and the infrastructure fund manager in September.
This represents a very important milestone for the Company, which generates energy in Chile through an operating fleet that totals 181 MW.
Solarpack saw strong growth in 2019, with the commissioning of 309 MW in Chile, Spain and India since its IPO in December 2018, bringing its attributable generation assets to 450 MW. The company also witnessed a year of intense construction activity, with a total of 536 MW initiated of which 227 MW are still underway.
Solarpack announces that on January 15, 2020, the board of directors of the Company has taken, among other decisions, the resolution to appoint Ignacio Artázcoz as the new executive chairman of the Company, appointment that will take effect at the end of the 2020 AGM. Ignacio Artázcoz will share executive tasks with co-founder and CEO Pablo Burgos from February 15, 2020. José Galíndez, co-founder, main shareholder and chairman of the Company since 2005, will continue his involvement with the Company as vice chairman of the board of directors and as chair of the new strategy and investment committee.