Spanish solar photovoltaic generation plants developer Solarpack has confirmed its intention to be listed on the Spanish Stock Exchanges to raise capital for its business plan.
The company said it intends to raise 100 million euros ($133.7 million) through the initial public offering.
The offering is 100 percent primary and the gross proceeds obtained in the offering will be primarily invested in the execution of its 510 megawatts (MW) contracted backlog, in the acquisition of 13 MW of operating assets in Spain, and to further develop its 2.9 gigawatts pipeline of future projects worldwide.
Solarpack said it will initially use the funds for solar projects it is currently developing in Chile, Spain and India, as well as for other general corporate purposes.