Soltec, headquartered in Molina de Segura in the Murcia region, builds trackers for utility-scale solar plants. For much of 2024 and 2025, its business was largely on hold. The company could not provide the financial guarantees needed to secure new orders while it restructured its finances, a process it concluded in December 2025. Its half-year figures still reflect that period.
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Revenue for the first half of 2026 came to €9 million, while the consolidated net loss reached €28 million. Most of that loss, €25.7 million, came from the Energy division, which wrote down €16 million on development projects held for sale. According to the company, the write-downs involve no cash outflow and do not affect its solvency. The Industrial division, home to the core tracker business, told a different story, with a net profit of just under €1 million.
Structural costs halved, SAP rollout under way
As part of its transformation plan, Soltec says it has cut structural costs by more than 50 percent. It is gradually scaling back capital-intensive, lower-margin activities to concentrate on the tracker business. At the same time, it is rolling out a new SAP system that will allow closer control at project level.
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On the governance side, Soltec has appointed an independent chairman of the board and a second independent board member with more than 30 years of industry experience. The company has also named new regional heads for Europe, the Middle East and Africa (EMEA), Latin America and North America.
Pipeline of 44 gigawatts across 26 countries
Despite the weak figures, Soltec points to a growing project pipeline, which it says now spans more than 44 GW across 420 projects in 26 countries. Over 20 of these projects are in the final award phase.
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CEO Mariano Berges on the company’s strategic direction: “The sector is entering a new phase in which the challenge is no longer solely to install more renewable capacity, but to maximise the value it generates by improving the performance, efficiency and competitiveness of installations throughout their entire lifespan.” (nhp)
