25 June 2024

Soltec shareholders support the company’s management and approve the appointment of Mariano Berges as CEO

  • Raúl Morales will remain as Executive Chairman
  • The division of the roles of CEO and Chairman reinforces the company’s international best practices in corporate governance and transparency
  • The United States continues to position itself as a strategic market, with a backlog of €92M in 2023 and an increase in revenues of 25%
  • During his intervention, Morales highlighted innovation, sustainability and good governance as key pillars of the strategy

Soltec, a vertically integrated company dedicated to photovoltaic projects, has held its General Shareholders’ Meeting. The shareholders have endorsed the company’s management by approving all the items on the agenda. The meeting, which took place in Murcia, was attended by 66.61% of the shareholders.

Soltec’s shareholders approved the individual and consolidated accounts, the management report and the statement of non-financial information for the financial year 2023.  One of the highlights of the Meeting was the shareholders’ endorsement of the new management structure, with the appointment of Mariano Berges as the new CEO, and the continuity of Raúl Morales as Executive Chairman. Morales stressed the company’s commitment to compliance with best practices in governance and transparency.

The Annual Report on Directors’ Remuneration, the amendment of the Articles of Association and the corporate management for the financial year 2023 were also approved.

Throughout his intervention, Morales highlighted innovation, commitment to sustainability and the principles of good governance and transparency as the key pillars that guides Soltec: “since our creation, innovation has been a key driver in all our operations, permeating every aspect of our business model”. In this sense, he highlights the launch of the SFOneX as an example of efficiency of the firm’s technology, which has also been reinforced by new algorithms implemented by Soltec, which allow greater efficiency to produce energy.

The current executive chairman has emphasized the importance of investment and development to continue leading the technological forefront in the solar energy sector. “We also recognize the importance of addressing the social, economic, and environmental challenges our planet faces, and we work to minimize our impact,” he highlighted.

Regarding good governance and transparency practices, Morales explained that these are values that “guide all our actions. We are committed to complying with all regulatory and regulatory requirements, ensuring integrity and ethics in all our operations”.

Morales also explained that the United States has become a key strategic market for Soltec, which has been influenced by the growth of solar energy in the region, as well as political support, which has enabled the consolidation of renewable energy in the US market. The company has strengthened its presence in the country by building a local team and creating a logistics centre in Texas, as well as establishing agreements with local suppliers. In addition, it has anticipated that revenues in the US will increase by 25% to 50% in the coming years, underlining its confidence in future market opportunities and reaffirming its position as a leader in the solar industry in the region. The design and launch of specific products for the US market demonstrates Soltec’s commitment to innovation and adaptation to local demands.

Soltec’s business divisions, simplified between Soltec Trackers and Soltec Energía. This new business model will focus on moving towards specialization, as well as focusing on the company’s strengths.

In his conclusion, Morales reiterated his gratitude for the trust and confidence placed in the management team, highlighting the importance of remaining focused on taking advantage of the opportunities in the renewable business, with a firm commitment to innovation, operational excellence and sustainability as key pillars.