At what enterprise value was Solarpack Corporación Tecnológica acquired in 2021?

During the acquisition of Solarpack Corporación Tecnológica by EQT PARTNERS in 2021, the company was valued at an estimated revenue multiple of 5x - 12x. The transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA.

What was the EV/EBITDA of Solarpack Corporación Tecnológica when it was acquired by EQT PARTNERS?

The estimated EV/EBITDA multiple for Solarpack Corporación Tecnológica is in the range of 15x - 25x. Join our community for free to access full valuation data and industry trends.

What was the revenue of Solarpack Corporación Tecnológica at the time of the deal?

The revenue of Solarpack Corporación Tecnológica at the time of the deal is estimated to be in the range of 100M - 200M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of Solarpack Corporación Tecnológica during the acquisition?

Solarpack Corporación Tecnológica's EBITDA is estimated to be in the range of 50M - 100M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the Solarpack Corporación Tecnológica acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the Solarpack Corporación Tecnológica deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://eqtgroup.com/news/eqt-infrastructure-successfully-completes-the-voluntary-tender-offer-for-solarpack-2021-11-25

← DATABASE

Home DatabaseSolarpack Corporación Tecnológica

11/2021

Solarpack Corporación Tecnológica acquired by EQT PARTNERS

SPAIN Power Generation / Renewables / Solar / PV EV 1b - 4b EUR

Context

EQT Infrastructure announced the successful completion of its voluntary tender offer for the outstanding equity of Solarpack Corporación Tecnológica, a leading developer and operator of utility‑scale photovoltaic assets in Spain and select international markets. The offer concluded the protracted acquisition process that commenced earlier in the year, following a non‑binding indication of interest and subsequent due‑diligence phase coordinated by leading legal counsel. Solarpack, founded in the early 2000s, has built a portfolio of solar farms with a reputation for robust project execution and long‑term power purchase agreements, positioning it as a strategic target for infrastructure investors seeking exposure to the European renewable transition. EQT’s investment thesis centered on the convergence of two complementary growth vectors: the firm’s deep expertise in capital‑intensive, regulated infrastructure assets and Solarpack’s established pipeline of operational solar projects with predictable cash flows. From the buyer’s perspective, the acquisition represented a platform‑building operation of external growth, enabling EQT to broaden its renewable energy footprint, achieve scale economies, and diversify its asset mix across generation technologies and geographies. The transaction also aligns with EQT’s broader commitment to ESG‑aligned capital deployment, reinforcing its positioning as a principal conduit for institutional capital into decarbonisation‑driven infrastructure. The anticipated operational impact includes the integration of Solarpack’s asset management capabilities into EQT’s existing infrastructure platform, thereby enhancing portfolio optimisation, centralising procurement, and standardising performance monitoring across the combined entity. Synergies are expected to arise from shared services, joint financing structures, and the ability to leverage EQT’s extensive investor network to refinance and expand the solar portfolio under more favourable terms. In the medium term, the combined operation is projected to accelerate capacity additions, improve capacity‑factor benchmarks, and deliver incremental value to equity holders through disciplined capital allocation and risk‑adjusted returns.

Solarpack Corporación Tecnológica, which reported an EBITDA margin of LOGIN in 2021, is valued in this transaction at an EV/EBITDA multiple of LOGIN.

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

Target

Solarpack Corporación Tecnológica is a vertically integrated developer and operator of utility‑scale photovoltaic assets, headquartered in Barcelona, Spain. Established in the mid‑2000s, the firm leverages a full‑cycle value proposition encompassing site identification, permitting, financing, engineering, procurement, construction (EPC), and long‑term operation and maintenance (O&M). Its portfolio comprises megawatt‑scale solar power plants across Europe (Spain, Portugal, Italy), the United States, and Latin America (Chile, Brazil, Mexico), reflecting a strategic footprint that aligns with diverse regulatory regimes and grid‑integration standards. Solarpack’s client base includes multinational utilities, corporate off‑takers, and institutional investors seeking renewable energy procurement under power purchase agreements (PPAs) or feed‑in tariffs. The company’s technical expertise is anchored in advanced PV module selection, high‑efficiency inverter integration, and digital asset‑management platforms that optimize performance monitoring and predictive maintenance. By maintaining in‑house engineering capabilities and strategic partnerships with EPC contractors, Solarpack delivers cost‑effective project execution while adhering to stringent environmental, health, and safety protocols. The firm also provides advisory services on renewable‑energy market entry, regulatory compliance, and asset‑level optimization, thereby reinforcing its role as a comprehensive solutions provider within the solar power generation ecosystem.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2021

2020

Similar deals in Energy & Utilities

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
03/2025	BROOKFIELD	Neoen	FRANCE	Power Generation	Brookfield Renewable Holdings announced the successful completion of a mandatory tender offer for all outstanding shares and convertible bonds of Neoen. The offer, launched in February 2025, resulted in Brookfield and its concert parties acquiring approximately 97
11/2024	KKR	Greenvolt	PORTUGAL	Power Generation	KKR announced a definitive tender offer to acquire control of Greenvolt – Energias Renováveis, S.A., a Portuguese independent power producer specializing in solar and wind assets. The bid represented KKR’s most recent foray into the European renewable sector, following a period of heightened investor interest in decarbonisation infrastructure
11/2024	Masdar	TERNA ENERGY	GrEECE	Power Generation	Masdar concluded the acquisition of Terna Energy, the pre‑eminent Greek renewable‑energy developer and operator. The deal, first disclosed in June 2024, culminated after a rigorous regulatory review by the European Commission and the Hellenic Energy Authority, confirming compliance with competition and foreign‑investment statutes
09/2024	PPC GROUP	COPELOUZOS WIND PORTFOLIO	GREECE	Power Generation	PPC Group has finalized a strategic agreement to acquire an extensive energy portfolio from the Copelouzos and Samaras groups, a maneuver designed to fundamentally accelerate the group’s renewable transition
06/2024	KKR	Encavis	GERMANY	Power Generation	KKR disclosed the launch of a voluntary public takeover bid for Encavis AG, a leading independent operator of renewable‑energy assets in Europe. The proposal, structured as a cash‑only offer, rapidly achieved the statutory minimum acceptance threshold, prompting the formal conclusion of the transaction
11/2023	Statkraft	Enerfin	SPAIN	Power Generation	Statkraft announced the acquisition of Enerfin, the renewable‑energy subsidiary of the Spanish engineering conglomerate Elecnor. Enerfin comprises a diversified portfolio of operational wind and solar facilities primarily located in Spain and Portugal, together with an active development pipeline targeting additional on‑shore wind projects and utility‑scale solar farms
06/2023	ANTIN INFRASTRUCTURE	Opdenergy	SPAIN	Power Generation	Antin Infrastructure Partners disclosed in June 2023 a voluntary cash tender offer to acquire the entirety of Opdenergy, a French independent operator specialised in renewable electricity generation. Opdenergy’s portfolio comprises on‑shore wind, solar photovoltaic and hydroelectric assets primarily located in metropolitan France, with an installed capacity that positions it among the leading domestic producers of green power
03/2022	MACQUARIE	Reden Solar	FRANCE	Power Generation	Infravia Capital announced the execution of a definitive agreement whereby a consortium led by Macquarie Asset Management would acquire the French solar development platform Reden Solar. Reden Solar, established in 2017, has built a portfolio of utility‑scale photovoltaic projects across multiple European jurisdictions, primarily focusing on ground‑mounted, grid‑connected assets
11/2021	ENGIE / CRÉDIT AGRICOLE ASSURANCES	Eolia Renovables	SPAIN	Power Generation	ENGIE and Crédit Agricole Assurances announced in June 2024 the completion of a joint acquisition of Eolia Renovables, a Spanish developer and operator recognised as one of the country’s largest independent renewable power producers
06/2021	CUBE INFRASTRUCTURE	RENEWABLE POWER INTERNATIONAL	SPAIN	Power Generation	RPI has been acquired by a consortium led by Cube Infrastructure Fund, together with Demeter Partners, the company’s management team, and two Spanish family offices. The transaction closed in June 2021, transferring ownership of all 17 mini‑hydro plants and associated concessions from Renewable Power International Holdings to the new shareholders

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 100M - 200M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Solarpack Corporación Tecnológica by EQT PARTNERS are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: solarpack corporación tecnológica

Acquirer: eqt partners