Spain’s T-Solar Plans IPO for More Plants

29 March 2010 (Last Updated March 29th, 2010 18:30)

Spanish solar energy producer T-Solar could list its shares on Spain's small and mid-cap index in the next few months to fund the building of more plants abroad. T-Solar reported revenue of €128.7m ($173m) last year and EBITDA of €84.8m and has invested €1.07bn in its business since it

Spanish solar energy producer T-Solar could list its shares on Spain's small and mid-cap index in the next few months to fund the building of more plants abroad.

T-Solar reported revenue of €128.7m ($173m) last year and EBITDA of €84.8m and has invested €1.07bn in its business since it started in 2006, the company said.

The company has an installed capacity of 143.15MW, which it aims to quadruple in the next three years by building large solar plants in Spain, Italy, France, India, the US and Latin America, reports Reuters.

"The company wants to fund its international expansion, leveraging its project pipeline, which currently consists of 664MW in different stages of development, and on its sound network of partners in the countries where it already operates," T-Solar chief executive Juan Laso said in a statement.

T-Solar designs and operates large-area solar photovoltaic plants and sells the electricity generated from them to utility companies.