17. August 2023
Czech solar group, SOLEK HOLDING SE, almost doubled its turnover last year with a total of 2.11 billion CZK (USD 90 million), mainly thanks to its continued dynamic development in its primary market in Chile and the fulfillment of orders for its major business partner, BlackRock. Its EBITDA reached 113.22 million CZK (USD 4.8 million). SOLEK was founded in 2010 by Czech businessman and visionary, Zdeněk Sobotka, and specializes in the development, construction, running, and monitoring of solar power stations in Europe and Latin America.
SOLEK’s customers include leading global investment firms, banks, funds, and energy companies. Its main solar power station portfolio is located in Chile, where it manages more than 30 photovoltaic power stations. One of the company’s key events in 2022 was its return to the Czech market, where it is currently developing its programme of installing solar power systems on the roofs of large industrial buildings, whilst also planning to utilize its experience abroad to develop and construct large ground installations.
“In 2022 we were able to double the number of connected photovoltaic projects and exceed 200 MW of installed capacity. Our main activity is based in Chile, and yet we have recently expanded our operations to a total of ten countries. We are aiming to be a key player in Europe, including the Czech Republic, where we have returned to implement solar power system projects and offer our energy services,” explained Zdeněk Sobotka, chairman of the board and founder of SOLEK HOLDING SE.
In Latin America, SOLEK has recently expanded into Colombia, where it has begun developing solar power stations. The first is planned to be connected to the network as early as 2024. In terms of Europe, in addition to the Czech Republic, the group also operates in Cyprus, Romania, Greece, and Slovakia, and has recently entered the French, Spanish, and Serbian markets. Currently, SOLEK has projects with a total capacity in excess of 1,400 MW in the pipeline, whilst its goal for this year is to surpass the 400 MW milestone in terms of total connected photovoltaic power system capacity.
In May of this year, SOLEK took a historic step forward when it successfully entered the US Private Placement (USPP) market. A private placement of 178 million USD, arranged by investment banks Natixis and SNP Paribas, was part of the larger financing scheme worth 379 million USD that SOLEK group managed to obtain from a consortium of investors to finance its solar portfolio.
The financial players that once again decided to support SOLEK included American firm BlackRock, a leading global asset manager, providing a mezzanine loan of 75 million USD. “I take this as proof that our investment partners trust our knowledge base and are willing to continue to invest not just their money, but also their confidence in us. This historic step has also put us on the map of attractive investment assets,” added Zdeněk Sobotka, SOLEK CEO and founder.
You can find the Consolidated Annual Report 2022 here.