Soltec signs agreement with Endesa to install a solar tracker factory in Teruel

• The solar tracker production center, to be based at the warehouses and facilities of a former thermal power plant, will result in the creation of about 40 permanent jobs. • Raúl Morales: “We are proud that Endesa selected us as their industrial partner for this initiative, as that it will also allow us to supply solar tracker suppliers to the Andorra project”

Murcia, November 28, 2022.- Soltec has signed a strategic agreement with Enel Green Power España, name of Endesa's renewable energy subsidiary, for the creation of a solar tracker production center in the region of Aragon. The center, to be based at the warehouses and facilities of a former thermal power plant, will result in the creation of around 40 permanent jobs in Teruel, thus favoring economic development and employment in the area.

"We are proud that Endesa selected us as their industrial partner for this initiative, as that it will allow us to supply solar tracker suppliers to the Andorra project", said Morales, who added that "within the existing macroeconomic and geopolitical context, it is more necessary than ever to locate production centers within the European Union. Developing our production center near project sites is a decision aligned with our strategy of circular economy and socio-economic excellence".
Soltec has 18 years of experience and a track-record of over 14 GW in the supply of solar trackers worldwide. According to Fernando Sánchez, Soltec's Strategic Accounts VP, "this puts us in a great place to develop this new manufacturing center as well as our own projects. This agreement is the outcome of many years of work with Endesa, one of our key partners since we began collaborating in 2014. Today, that collaboration reaches eight countries and accounts for 4 GW in projects". More specifically, for the Mudéjar de Andorra project (Teruel), both companies have worked together for the last two years.
Endesa's complete plan include a social program for the creation of 6,500 jobs during the implementation phase, and 370 direct jobs for the operating phase, as confirmed by company representatives. "Both our partner and us are fully committed to the development of local communities. Thus, we are very happy to participate in this large sustainable power generation project, which will not only favor regional growth, but also become the largest project of its type in Europe and one of the largest worldwide", said Soltec's CEO.

About Soltec
Soltec Power Holdings (ticker: ‘SOL') is a company strongly committed to innovation and sustainability which specializes in vertically integrated solutions for the photovoltaic solar energy industry. This company, based in Murcia (Spain), was founded in 2004 and currently operates in 16 countries, with a solid presence in Spain, North America and Latin America. The company is listed on Spain's Stock Exchange since 2020.
Soltec's activity is structured around three main business areas: i) the photovoltaic project development division, known for its strong environmental, social and good governance commitment; ii) Soltec, industrial division and third manufacturer of solar trackers worldwide, providing clients with additional construction services to ensure a comprehensive and integrated value proposal. iii) Soltec Asset Management, a third business division allowing Soltec to manage portfolio assets with the aim to maximize mid- and long-term profits.

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