Solas Capital AG expands partnership with Quanta Energy S.A. to finance self-consumption solar PV projects for leading automotive manufacturers in Europe
Zürich, 16th December 2024
Solas Capital, a specialist investment advisor focused on energy efficiency financing, has
expanded its partnership with Quanta Energy S.A. (“Quanta”) through an additional €10 million framework agreement under its Solas Sustainable Energy Fund ICAV (“SSEF”) to finance selfconsumption solar PV projects
Quanta and SSEF have already signed a Financing Agreement that has enabled the implementation of a 16.3MW self-consumption solar PV installation for a major European automotive manufacturer – one of the largest such installations in Europe
The expected reduction in CO2 emissions is over 25,000 tonnes annually through the
generation of more than 33.7 GWh of clean electricity per year across the entire framework
Solas Capital AG, a specialist energy efficiency investment advisor based in Zürich with offices in Munich and Dublin, has signed a new framework agreement through its article 9 dark green fund SSEF with Quanta, a leading provider of self-consumption PV solutions for commercial and industrial (C&I) clients in CEE.
Through partnerships with industry leaders like Quanta, Solas Capital’s innovative financing approach is accelerating the decarbonisation of buildings and industrial facilities across multiple European markets including Spain, Ireland, Germany, Austria, the Netherlands and Poland. This demonstrates the effectiveness of Solas Capital’s project finance strategy in bridging the funding gap between institutional investors and energy efficiency project developers.
Drawing on Solas Capital’s extensive experience in energy efficiency financing, SSEF’s financing enables Quanta to offer Solar-as-a-Service solutions to its large corporate and industrial customers without requiring upfront capital investment. The company provides comprehensive photovoltaic solutions tailored for business clients across their 800 MW development pipeline of renewable energy assets in Europe.
The initial project completed under the original partnership included one of the largest selfconsumption solar PV systems in Europe, featuring over 22,800 solar PV modules spanning approximately 18.6 hectares. The installation significantly contributes to the decarbonisation goals of one of Europe’s leading automotive manufacturers. The new framework will finance an additional 17MW of installations, which combined with the existing project will reduce annual CO2 emissions equivalent to the yearly emissions of 6,250 four-person households.
Slawomir Huss, Partner at Solas Capital AG reflects on the expanded partnership: “The successful implementation of our initial project with Quanta demonstrated their exceptional capability to deliver large-scale solar installations for demanding industrial clients. This new framework agreement allows us to build upon that success and support the broader decarbonisation of Europe’s automotive sector.”
Piotr Grzybczak, CEO of Quanta Energy S.A. highlights: ” We are thrilled to implement these ambitious projects through our framework agreement with Solas Capital, including one of the largest on-site installations in Europe. This initiative aligns with the broader context of energy transition in the automotive industry across Europe. We are delighted that these joint projects will not only contribute to carbon footprint reduction but also significantly decrease energy costs for our partners.”
Sebastian Carneiro, CEO of Solas Capital AG remarks: “This expanded partnership with Quanta enhances SSEF’s portfolio by increasing our exposure to projects with blue-chip industrial clients. By supporting the decarbonization efforts of major European manufacturers, we continue to deliver both strong environmental impact and stable returns for our investors.”
About Solas Capital AG
Solas Capital is a specialist investment advisory firm founded and managed by professionals from the energy efficiency financing sector and based out of Zürich, Munich, and Dublin. Through the development of innovative financing solutions Solas Capital’s mission is to support the move to a carbon-neutral society. By understanding both the funding needs of energy efficiency project developers and the requirements of institutional investors, Solas Capital bridges the funding gap between investors and projects. Solas Capital is the investment advisor to the Solas Sustainable Energy Fund ICAV, which is supported by the Munich Re Group, the European Investment Bank, and the LIFE Programme of the European Commission. For more information, please visit: www.solas.capital
About Quanta Energy S.A.
Quanta, a part of the R.Power Group, specializes in the solarization of roofs and on-site PV installations for C&I customers. It offers project implementation from energy audit through design to construction. Quanta is the largest provider of photovoltaic services for C&I customers in Poland, Germany and Italy.
For more information, please visit: www.quantaenergy.solar
For further information
Press contact:
E-mail: media@solas.capital
Website: www.solas.capital