Soltec Power Holdings SA ( (ES:SOL) ) just unveiled an update.
Soltec Power Holdings SA has announced a second novation agreement with Pino Investments, involving the sale of its stake in a joint venture with Total Energies for approximately 20.1 million euros. This move is part of Soltec’s strategic plan to divest asset management activities, reduce financial expenses, and lower leverage by focusing on less complex businesses. The agreement also includes the establishment of a Luxembourg structure for its Brazilian energy generation business, which will serve as a guarantee for obligations under the financing agreement.
More about Soltec Power Holdings SA
Soltec Power Holdings SA operates in the renewable energy industry, focusing on providing solar tracking solutions and services. The company is involved in energy generation and asset management, with a strategic focus on less capital-intensive and operationally simpler businesses.
Technical Sentiment Signal: Buy
Current Market Cap: €159M
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