Madrid, Spain-based developer Soto Solar has raised over €100 million from selling a 50% interest in the company to a group of international private wealth investors.
The company plans to use proceeds for its first 500-MW tranche of solar photovoltaic projects in Spain, according to a Sept. 3 news release.
Dutch companies Stecc BV and Hartenlust Group initiated Soto Solar, which started operations in late 2018. The company aims to install 2 GW of solar capacity in the next five years.
