Soltec set to double its turnover in 2019

Soltec, a leading company in the manufacture and supply of single-axis solar trackers, forecasts the sale of 3 GW for utility-scale solar plants this year that will close 2019 with a record of almost 10 GW and a turnover of some US$400m.

Since its foundation in 2004, this Spanish entity has significantly grown its sales year after year. Soltec invoiced almost US$200m in 2018, an amount that is expected to double in 2019, representing a growth of 121%.

Soltec has more than one hundred projects worldwide and is market leader in Brazil, Peru and Colombia. It is also continuing to consolidate its position in the solar power market with revolutionary products such as its SF7 solar tracker and the SP7 Bifacial whose design has been optimised to achieve a maximum yield from bifacial modules.

“This year to date, the trend in bifacial technology is the key to utility-scale PV projects. Eight out of every ten quote requests are for bifacial, confirming our company’s commitment to innovation and research in bifacial technology”, explains Eduardo de San Nicolás, product manager at Soltec.

With its strong commitment to innovation and the development of proprietary technologies, in 2018 Soltec inaugurated its Bifacial Tracker Evaluation Center (BiTEC), to study the performance of bifacial modules in different conditions including albedo, height, distance between modules and module temperature. The research also aims to establish the best tracker design for the implementation of bifacial modules.

With 15 years of experience in the sector and over 35 patents, Soltec is present across the five continents. The company already has offices in Argentina, Australia, Brazil, Chile, China, Denmark, Egypt, the US, India, Italy, Israel, Mexico and Peru. With a development-based business model, Soltec has become a European reference in the renewable energy sector while modelling its economic growth based on care for the environment.

The SOLTEC team

Soltec’s growth is linked to its workforce. The company current has a staff of around 1,500 personnel distributed across projects and subsidiaries worldwide. As part of its commitment to job creation and the search for talent, Soltec has recently launched the second edition of the Solteach study grant, a programme that sets out to give the best professionals the opportunity receive a first-hand training in renewables from one of the business references for the sector in Spain, which has achieved a spectacular growth in recent years.