Spain's Solaria seeks partners for European landco

Spanish solar power producer Solaria Energia y Medio Ambiente SA (BME:SLR) is bringing its European landco Generia to market, hoping to find partners for the land acquisition vehicle.

Solaria said on Tuesday it has hired investment banks Alantra and Kutxabank Investment Norbolsa to develop a strategic plan for Generia, aiming to accelerate its growth by bringing in new partners into the capital.

The company did not disclose what is being offered to the prospective investors.

Solaria created Generia in 2022 as a means to purchase land in Europe. “Land will undoubtedly be a scarce and strategic asset for the development of renewables in the next decade, and Generia will be the ideal solution for the European Union,” Solaria said in Tuesday’s brief announcement.

Solaria’s European operations are based in Spain, Portugal, Greece and Italy. The company also has an early-stage solar portfolio in Germany.

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