Spain’s T-Solar considers IPO to build plants abroad

MADRID, March 29 (BestGrowthStock) – Spanish solar energy producer
T-Solar said on Monday it was considering listing its shares on
Spain’s small and mid-cap index in the next few months to fund
the building of more plants abroad.

The announcement comes after travel booking firm Amadeus
said March 23 it would carry out an initial public offering in
the first half, ending a two-year IPO drought in Spain as the
global market for new listings recovers. [ID:nLDE62M0J0]

T-Solar reported revenue of 128.7 million euros ($173
million) last year and EBITDA of 84.8 million euros and has
invested 1.07 billion euros in its business since it started in
2006, it said.

The company has an installed capacity of 143.15 megawatts
(MW) which it aims to quadruple in the next three years by
building large solar plants in its target countries of Spain,
Italy, France, India, the United States and Latin American.

“The company wants to fund its international expansion,
leveraging its project pipeline, which currently consists of 664
MW in different stages of development, and on its sound network
of partners in the countries where it already operates”, said
Chief Executive Juan Laso in a statement.

Global solar demand has recovered from a brutal 2009, when
prices for the modules that turn sunlight into electricity
tumbled by more than 40 percent as a glut of supplies and
difficult financial markets slowed growth. [ID:nN10247590]

The group, whose shareholders include eight savings banks,
and the builder Isolux Corsan, has hired Credit Suisse
(CSGN.VX: ), Societe Generale (SOGN.PA: ) and banks Sabadell
(SABE.MC: ) and Mediobanca (MDBI.MI: ) to advise on any IPO.

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

It also manufactures thin-film amorphous silicon solar
panels.

Investing Research

($1=.7439 Euro)
(Reporting by Sarah Morris; editing by Louise Heavens)

Spain’s T-Solar considers IPO to build plants abroad