Luxembourg-based technology services company Solutions 30 SE has announced the acquisition of a 10% stake in So-Tec, a French solar firm with which it collaborates closely in a synergistic relationship.
Located near Montpellier, So-Tec specializes in the design and installation of various solar systems, including ground-mounted, rooftop, floating, and agrivoltaic setups. With 450 MW of installed power generating capacity to date, the company employs approximately 100 individuals and boasts annual sales exceeding EUR 20 million (USD 21.7 million), as per its website.
“Investing in So-Tec is a further step in Solutions30's dynamic positioning in the photovoltaic sector and reaffirms its ambition to become one of the leading players in the sector in France,” Solutions 30 stated in a press release.
Under the terms of the agreement, Solutions 30 has the option to increase its shareholding gradually and potentially acquire the entire business within a five-year period. However, specific financial details of the transaction were not disclosed.
Solutions 30 operates across various sectors, including telecom, IT, security, and retail. Its energy unit specializes in providing services related to smart meters, smart grids, and smart buildings.
