Expects to achieve 1.8-2 GW of installed or under-construction capacity by the end of 2023, tending to 4 GW by the end of 2026
Solarpack plans to maintain its current strategy of geographical diversification, focusing on existing high-volume, high-growth markets such as Spain, the United States, India and Latin America, which will make up 80% of future growth. However, it also plans to selectively enter attractive new emerging markets, especially in Southeast Asia and Africa.
Its growth plan also contemplates having a portfolio of between 1.8 GW and 2 GW of projects in operation or under construction by 2023, tending to have close to 4 GW by the end of 2026. To achieve this, it currently has a geographically diversified portfolio of 8.1 GW of projects under development. All this capacity would involve an investment of between €1.5 billion and €2 billion. To finance this investment, the company is planning to reinvest cash from operations, raise project finance debt and use corporate leverage headroom. The company also has the possibility of undertaking asset rotation and accessing equity markets as part of a flexible financing plan.
Within this growth plan, Solarpack expects to see growing energy sales to private buyers. It will also look closely at opportunities in microgrids, off-grid and other innovative business model areas.
Solarpack will continue trialing and implementing new photovoltaic technologies and renewable energy hybridization models. For example, the company is building an energy storage pilot project, with a total investment of USD$10 million, to test different business models and battery storage technologies.
Finally, Solarpack has fully integrated ESG criteria into its company strategy and continues to promote social impact initiatives. In this area, the company supports non-profit entities such as Fundación EKI and carries out social initiatives in the regions it operates in.